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.