Zalando: cuts EBIT target.

(CercleFinance.com) - On Thursday Zalando reported Q2 turnover of 1.
1 billion euros, up 20% y-o-y, in line with its target range of between +19% and +21% announced last month.

Adjusted Ebit came in at 88 million euros, above the target range of between 80 million and 86 million euros and higher than the consensus of 83 million euros.

More good news for the German ready-to-wear group and competitor of ASOS: the number of active customers rose by 800,000 over April-June to 21.1 million.

The group now expects its annual Ebit growth to be less than half the target range of 5-6% set previously. However, this has not prevented the stock from rising today - up 0.4% at lunchtime.


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