Booktopia shares skyrocket as e-comm operator outlines new earnings strategy

 Shares in online bookshop Booktopia (ASX: BKG) are on the rise this morning after the company unveiled its plans to improve earnings and reduce costs over the next 18 months.

The announcement, which follows a bitter boardroom battle at the e-commerce retailer over the course of last year, details how BKG will deliver approximately $12-15 million of annualised improvements to earnings to be realised in FY24 and beyond.

Booktopia’s initiatives include adjusting the pricing on various products to reflect costs, changing how it recovers third-party delivery costs, optimising its advertising program to focus more on high-conversion channels and reducing its property/lease obligations requirements.

Read More: https://www.businessnewsaustralia.com/articles/booktopia-shares-skyrocket-as-e-comm-operator-outlines-new-earnings-strategy.html