Zalando: shares jump after 'solid' 2018 results
(CercleFinance.com) - Zalando shares soared 17% on Thursday - their biggest percentage increase in while, after the German online fashion retailer posted 2018 results that were deemed as "solid.
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Adjusted group EBIT fell to 173.4 million euros last year, from 215.1 million euros in 2017, but group revenue jumped by 20% to 5.4 billion euros, slightly above the consensus.
"Profits are a little better than expected," said analysts at Liberum, noting "good growth" in the fourth quarter at 25%.
For 2019, Zalando expects to grow revenues at the lower part of a range of between 20% and 25%.
The shares are currently up 17.6% at 30.8 euros on the XETRA market.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
"
Adjusted group EBIT fell to 173.4 million euros last year, from 215.1 million euros in 2017, but group revenue jumped by 20% to 5.4 billion euros, slightly above the consensus.
"Profits are a little better than expected," said analysts at Liberum, noting "good growth" in the fourth quarter at 25%.
For 2019, Zalando expects to grow revenues at the lower part of a range of between 20% and 25%.
The shares are currently up 17.6% at 30.8 euros on the XETRA market.
Copyright (c) 2019 CercleFinance.com. All rights reserved.