November 6, 2018 / 7:20 AM / 12 days ago

Zalando blames Q3 loss on weather, logistic costs, return issues

BERLIN, Nov 6 (Reuters) - Zalando, Europe’s biggest online only fashion retailer, reported its slowest rate of sales growth since it was launched a decade ago and recorded a loss due to unseasonably warm weather, higher logistics costs and operational problems.

Third-quarter sales rose 12 percent to 1.2 billion euros ($1.37 billion), missing average analyst forecasts for 1.22 billion euros, and well below the 20 to 25 percent growth it has targeted for years.

Its adjusted loss before interest and taxation came in at 39 million, which it blamed on the slow start of sales of colder weather gear due to warm weather, as well as higher fulfilment costs and problems with how it handles returned goods. ($1 = 0.8765 euros) (Reporting by Emma Thomasson; Editing by Maria Sheahan)

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