slump in demand fashion retailer zalando significantly cuts forecast

Slump in demand: fashion retailer Zalando significantly cuts forecast

Sumary of Slump in demand: fashion retailer Zalando significantly cuts forecast:

  • In the first quarter, the Berliners had already felt the return of stationary retail after the corona pandemic, a deteriorating consumer mood and rising costs.
  • However, the proceeds could also stagnate at 10.4 billion euros after the board of directors had assumed growth of up to 19 percent at the beginning of May.
  • The environment deteriorated further in the second quarter of the year and the mood for consumption fell, according to a statement from early Thursday evening.
  • The company, which is listed on the Dax, has therefore now reduced its annual targets and is already calculating.
  • Against this background, sales should only increase by three percent to 10.7 billion euros in the best case, Zalando announced.
  • According to Zalando, things are likely to have gone worse in the second quarter than analysts had expected.
  • And this despite the fact that the company now wants to significantly reduce investments compared to the original plan.

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