Richard Williams, the Director and CEO of Groupon Inc (NASDAQ:GRPN), said that although there is work to do across FY2016, the results so far gives them confidence that they are on the right track. The right priorities are set, and they have the skills to deliver on them.
The CEO of Groupon said that after three quarters of intense focus and transition on four strategic priorities, they are improving the core operations and witnessing sustained progress, supported by strong 2Q2016 results. They are further along the tracking in becoming the regular habit in local business, and the company’s clients and merchants especially in North America continue to choose the Groupon marketplace over others.
The consistent execution and platform continues to lead the company and team forward. Williams added that they are scaling and building a vital platform that they believe can add value to customers’ lives and outsize financial returns. Along with connecting people with incredible businesses and local experience, they are allowing local transactions at a scale and breadth that is unparalleled in core markets.
The guiding factors
Groupon CEO said that they are guiding incremental clients to their merchants, and they are helping spread vibrant neighborhoods in this planned process. The company has four set priorities for this year, which include to profitably investing in client growth, to simplify and streamline operations, to develop a remarkable customer experience, and to lessen empty calories.
Strong execution was the major driver for 2Q2016 performance, particularly for adjusted EBITDA and revenue. As highlighted before, the streamlining initiatives, pursuit of better shopping margins and more investment in marketing results in some short-term trade-offs in the P&L while with the strategic and operational plans are steadily improving overall results. They expect this momentum to continue throughout FY2016.