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Cazoo has revealed plans to shake up its U.K. business. In a Wednesday (Jan. 18) earnings statement, the online auto seller announced a revised strategic plan for 2023 as it reassesses its business model and adapts to current market conditions.
Online car retailer Cazoo Group Ltd (NYSE:CZOO) share price skyrocketed and then plummeted on the news that co-founder and chief executive Alex Chesterman will step down amid falling full-year sales and plans to cut staff. Its shares were up some 9.3% as the New York market opened, but later fell some 15% as it forecast car sales to fall to between 40,000 and 50,000 units in 2023, down as much 38.5% from the 65,000 sold in 2022.
Online car-buying platform Cazoo has sold its Spanish subscription business. In a Thursday (Dec. 15) press release, the U.K.-based online auto seller announced that it has sold Swipcar to Renting Finders.
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Fintel reports that Alex Chesterman has filed a 13D/A form with the SEC disclosing ownership of 186,496,856 shares of Cazoo Group Ltd (CZOO).
The stock price of Cazoo Group (CZOO) increased by 2.81% in the most recent trading session. This is why.
Cazoo is a fast-growing and founder-led business. The company's current valuation is cheap.
Cazoo Group Ltd (NYSE:CZOO ) Q3 2022 Results Conference Call October 27, 2022 8:00 AM ET Company Participants Robert Berg - Director of IR and Corporate Finance Alex Chesterman - Founder, Chairman and CEO Stephen Morana - CFO and Director Conference Call Participants Rajat Gupta - JPMorgan Adam Berlin - UBS Sam Saeed - Berenberg Catherine O'Neill - Citi Operator Greetings, everyone. Welcome to Cazoo's Third Quarter Fiscal Year 2022 Earnings Call.
LONDON & NEW YORK--(BUSINESS WIRE)--Cazoo Group Ltd (NYSE: CZOO) (“Cazoo” or “the Company”), the UK's leading online car retailer, which makes buying and selling a car as simple as ordering any other product online, today announced the Company will release its third quarter 2022 results before the U.S. stock market opens on Thursday, October 27, 2022. The Company will host a conference call at 8:00 a.m. Eastern Time that day. Investors and analysts interested in participating in the call are in
There is no obvious reason for the move today.