UPDATE 1-Zalando lowers 2017 profit guidance after weak October [Reuters]
ASOS PLC UNSP/ADR (ASOMY)
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Source: Reuters
UPDATE 1-Zalando lowers 2017 profit guidance after weak October | Reuters Reuters Staff 2 Min Read * FY adj. EBIT margin seen slightly below 5 pct * FY sales growth target confirmed at 20-25 pct * Capex target remains at 250 mln euros (Adds details, shares) BERLIN, Nov 7 (Reuters) - German online fashion retailer Zalando warned on Tuesday that its full-year operating profit margin would be lower than expected after trading in October was weaker than forecast. Shares in Zalando, which dipped last month when it reported preliminary figures, were down 4.3 percent in early trading. Zalando, which has seen its profitability dented by heavy investments in logistics and technology as Amazon makes a big push into fashion, said construction would start this month on a second fulfilment hub in Poland. Zalando said third-quarter sales rose 29 percent to 1.075 billion euros ($1.25 billion). Adjusted earnings before interest and taxation (EBIT) came in at 0.4 million euros, missing average analyst
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