Zalando: first-quarter profit to exceed consensus
(CercleFinance.com) - German online fashion retailer Zalando said on Tuesday that it expects its first-quarter operating profit to exceed market expectations.
Zalando said it expects a positive adjusted EBIT in the single-digit millions, and thus above the market consensus of a 10 million euro loss.
Gross margin and revenue growth are expected to be in line with market expectations, it added.
"We are pleased with our performance in the first quarter, demonstrating that we are focused on strong execution," said Chief Financial Officer David Schroder.
"These results are in line with the company's full-year outlook," he noted.
The Frankfurt-listed shares jumped over 11% on the news.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
Zalando said it expects a positive adjusted EBIT in the single-digit millions, and thus above the market consensus of a 10 million euro loss.
Gross margin and revenue growth are expected to be in line with market expectations, it added.
"We are pleased with our performance in the first quarter, demonstrating that we are focused on strong execution," said Chief Financial Officer David Schroder.
"These results are in line with the company's full-year outlook," he noted.
The Frankfurt-listed shares jumped over 11% on the news.
Copyright (c) 2019 CercleFinance.com. All rights reserved.