ZALANDO: Beat on Q2 EBIT and upgrade of FY EBIT guidance | NEUTRAL | EUR37(-13%)
ZALANDO - NEUTRAL | EUR37(-13%)Beat on Q2 EBIT and upgrade of FY EBIT guidance
Q2 net sales growth unsurprisingly reaccelerating to 20.1%
Better Q2 adj EBIT than expected
Improving FCF, back to positive territory
FY 2019 adj EBIT guidance narrowed to the upper half
No ests change prior to the conference call
Zalando is an e-commerce group based in Germany. Co. is engaged in the online retailing of clothing, shoes and accessories for women, men and children. Co.'s product offering include more than 1,500 brands, including global and local brands, as well as private labels, including shoes, clothing and accessores as well as sportswear and homeware designed especially for the Co. The Co.'s product offering is complimented by the Zalando Lounge and Zalon apps, which provides registered members special offers at discounted prices. Co. also provides a combination of services that include free delivery and returns.
Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.
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