Zalando: shares fall after 'challenging' quarter
(CercleFinance.com) - Zalando shares fell by over 2% on Friday after the German online fashion retailer said it had a "financially challenging" third quarter.
In the third quarter to end-December, Zalando said it increased its revenues by just 11.7%, to 1.2 billion euros, resulting in an adjusted operating loss (EBIT) of 38.9 million euros.
For the full year, Zalando said it continues to expect revenue growth around the low end of its 20%-25% target growth corridor, with an adjusted EBIT of 150 million-190 million euros.
However, investors preferred to steer clear, with the Zalando stock currently down 2% at 25 euros in Frankfurt.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
In the third quarter to end-December, Zalando said it increased its revenues by just 11.7%, to 1.2 billion euros, resulting in an adjusted operating loss (EBIT) of 38.9 million euros.
For the full year, Zalando said it continues to expect revenue growth around the low end of its 20%-25% target growth corridor, with an adjusted EBIT of 150 million-190 million euros.
However, investors preferred to steer clear, with the Zalando stock currently down 2% at 25 euros in Frankfurt.
Copyright (c) 2019 CercleFinance.com. All rights reserved.