Japan resale app Mercari delivers record profit amid U.S. troubles

China e-commerce platforms like Temu lure away Americans with cheaper products

20240813N mercari

Mercari has struggled in the U.S. as inflation-hit consumers tighten their purse strings. © Reuters

SHUHEI YUZAWA, Nikkei staff writer

TOKYO -- Japanese online marketplace Mercari on Tuesday posted a group net profit of 13.4 billion yen ($91.3 million) for the year ended June 30, buoyed by robust operations at home even as its U.S. segment has struggled.

Group net profit rose 3% on the year to an all-time high, achieving its first back-to-back profit since its 2018 listing.

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