Zalando profits dip as stores reopen from lockdowns
© Reuters. FILE PHOTO: The logo of fashion retailer Zalando is pictured at the new headquarters in Berlin, Germany, April 10, 2019. REUTERS/Hannibal Hanschke
BERLIN (Reuters) – German online fashion retailer Zalando reported on Wednesday that third-quarter profits dipped but sales rose 23% as consumers continued to shop online even after stores reopened from coronavirus lockdowns.
Europe’s biggest fashion ecommerce player said adjusted operating profit fell to 9.8 million euros ($11.35 million) from 118 million a year ago and sales came in at 2.3 billion euros, slightly ahead of average analyst forecasts for 2.24 billion.
($1 = 0.8636 euros)
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