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Coupang Inc. slid in late trading on Tuesday after reporting retail net sales that fell short of Wall Street’s expectations.
Net sales totaled $6.14 billion, up from a year earlier but below analysts’ estimates of $6.24 billion. Operating income totalled $109 million, also slipping below projections. Net income fell in the quarter, reflecting losses at Farfetch, the online luxury company Coupang acquired in January.
Shares of Coupang dropped as much as 8.9 percent in extended trading.
The…
