Zalando: shares down following in-line figures

(CercleFinance.com) - Zalando reported better third-quarter key figures on Thursday, which were broadly in line with estimates, helped by growth in its customer base.


Driven by more orders (+25% year-on-year to 34.7 million), the German online fashion retailer grew its revenues by 26.7% to 1.5 billion euros over the quarter.

The Berlin-based company also achieved a positive adjusted EBIT of 6.3 million euros, meaning a margin of 0.4%.

However, the company's shares are taking a bit of a bashing - down 7% at under 38.8 euros.

"The reason shares are down is that there was no change in guidance," one analyst said.

Indeed, Zalando said it still expected full-year 2019 sales growth towards the bottom of a range 20%-25%.

In a note to clients, Liberum pointed out that the shares have been pretty flat over the past six months, in spite of increasing earnings estimates.

Copyright (c) 2019 CercleFinance.com. All rights reserved.