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Zalando profits dip as stores reopen from lockdowns -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: Zalando’s logo can be seen in the brand new Berlin headquarters, Germany on April 10, 2019. REUTERS/Hannibal Hanschke

BERLIN (Reuters). German online fashion retailer Zalando said Wednesday that while third quarter profits fell, sales rose 23%. This was despite the fact that stores were reopened after being locked down by coronavirus.

Europe’s largest fashion ecommerce platform said that its adjusted operating profit decreased to 9.8 million euros ($11.35million) from 118million a year earlier and that sales were 2.3 billion euros. That is slightly more than the average analyst prediction of 2.24 trillion.

($1 = 0.8636 euros)

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