February 27, 2020 / 6:21 AM / a month ago

Zalando forecasts slower sales growth for 2020

BERLIN, Feb 27 (Reuters) - Online fashion retailer Zalando said it expected sales growth to slow to 15-20% in 2020 after it reported a strong final quarter to 2019, boosted by a strong performance in the “cyber” week around the Black Friday discount day.

Fourth-quarter sales rose 19.5% to 2 billion euros ($2.17 billion), while adjusted earnings before interest and taxation came in at 110.4 million euros, both ahead of average analyst forecasts.

While it expects sales growth to come in at 15-20% in 2020, it said it expected gross merchandise volume - sales made on its website by itself or its partners - to rise 20-25% as it becomes more of a platform for brands rather than buying and selling stock itself. ($1 = 0.9201 euros) (Reporting by Emma Thomasson Editing by Riham Alkousaa)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below