March 25, 2020 / 3:05 PM / 4 days ago

UPDATE 1-Zalando says coronavirus shutdown limiting demand

(Adds details)

BERLIN, March 25 (Reuters) - German online fashion retailer Zalando said on Wednesday that restrictions on public life were resulting in lower demand for its products.

Zalando said in a statement it had not seen any major impact from the coronavirus until shutdowns were imposed in several of its major markets in recent weeks.

“Since the restrictions on public life, we have noticed negative effects in the form of lower demand in the affected areas,” it said.

Zalando, Europe’s biggest online only fashion player, last month forecast sales growth of 15-20% for 2020, down from 20.3% in 2019, not taking into account any negative impact from the coronavirus.

Zalando said it welcomed the fact that the European Union was keeping open its borders for logistics and commuters, as well as the fact essential services like parcel deliveries were still being allowed.

“These steps will be decisive to minimise the economic impact during the crisis,” the company said. (Reporting by Nadine Schimroszik Writing by Emma Thomasson Editing by Michelle Martin)

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