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Zalando: strong Q3 masks outlook

( - Zalando shares rose on the Frankfurt Stock Exchange on Thursday, as Europe's leading online fashion retailer benefited from a strong Q3 performance, which overshadowed annual forecasts that are now seen at the lower end of the range.

The German group reported a 7.1% increase in Q3 sales to 3.28 billion euros, slightly above the consensus of 6%, with revenue up 2.9% to 2.35 billion euros, in line with expectations.

Adjusted EBIT rose to 13.5 million euros, from 9.8 million euros a year ago, almost double the consensus of 5 million euros.

The number of active customers rose by 8% to above 50 million, although the average basket fell to 56.2 euros, compared with 57.4 euros a year ago.

Zalando maintained its forecast for revenue growth of between 0% and 3% this year, with adjusted EBIT of 180 to 260 million euros, although said it now expected to perform at the lower end of the range.

Zalando shares, which have lost 68% of their value over the past 12 months in an inflationary climate that has been unfavourable for consumer stocks, were up 2.8% after these figures on the Frankfurt stock exchange, leading the DAX index.

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