Zalando: New sales and profit warning
Zalando: (SELL, Fair Value Under Review ())New sales and profit warning
Zalando issued a new sales and profit warning for 2018, blaming a long and hot summer which affected its sales over July and August (did Zalando began to switch its season items too quickly?) and especially September which tend to be the month for transitional season items (the most profitable items for retailers). Zalando now expects to generate : 1/ a growth “around the low end†of 20-25% (vs. “in the lower half†of 20-25% previously) and; 2/ an adjusted EBIT between EUR150-190m (vs. “at the low end of EUR220-270m†previously). The consensus may cut by c.2% its 2018 sales figures and by c.10-15% its EBIT metrics to comply with the new guidance. Sell confirmed with FV under review pending the update of our model.
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.
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