Zalando: foresees better-than-expected results
(CercleFinance.com) - Zalando says it foresees better-than-expected results for the current quarter, as lockdown measures relating to coronavirus have actually favoured its domain of online merchants.
The German ready-to-wear site explains that it anticipates a "significant" increase in both its Q2 sales and adjusted Ebit, well above market estimates.
For the record, the consensus expects 16% growth in gross volumes over the quarter, with a 16% increase in sales, for adjusted EBITDA of 104 million euros.
Zalando says that it will provide a more detailed business update on 16 July, before announcing its Q2 results on 11 August.
The market obviously likes this news - its shares are up over 5% an hour into trading on Thursday morning in Frankfurt.
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