September 15, 2017 / 12:56 PM / a month ago

Zooplus cuts 2017 profit outlook on investments

(Reuters) - German online pet supplies retailer Zooplus lowered its earnings outlook for the full year, citing investments aimed at accelerating sales growth and prompting its shares to fall as much as 16 percent in the afternoon trade.

Zooplus said on Friday it now expected a single-digit million euro pretax profit for 2017, compared with its previous expectation for 17 to 22 million euros ($20.3-26.3 million).

It now sees sales come to around 1.13 billion euros, having previously forecast at least that amount.

The company confirmed its goal of achieving sales of at least 2 billion euros and earnings before taxes of 60 million euros in the existing customer business in 2020.

Reporting by Sylwia Lasek; Editing by Maria Sheahan

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