Newegg Commerce (NEGG) has released an update.
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Newegg Commerce, Inc. reported a 15% year-over-year decline in sales for the first half of 2024 amid high interest rates, inflation, and shifting consumer spending, yet managed to improve adjusted EBITDA by 29%. The company is focusing on a strategic shift towards AI-powered PCs and anticipates a rise in sales with upcoming next-generation CPUs from AMD and Intel. Newegg is also working on resizing its operations to align with revenue projections and renewing its focus on core IT competencies and customer experience to regain market share.
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