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Zalando says coronavirus crisis hits sales, profit

BERLIN, March 30 (Reuters) - German online fashion retailer Zalando said on Monday it was trimming spending and investment as coronavirus lockdowns hit its sales and profitability, noting it had a strong balance sheet that should help it get through the crisis.

Zalando said in a statement it expects first-quarter sales and earnings before interest and taxation (EBIT) to be significantly below analyst consensus of March 11 and it assumes it cannot achieve the full-year forecast it gave on Feb. 27. (Reporting by Emma Thomasson, Editing by Franklin Paul)

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