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Zalando Q1 sales growth 22 to 24 percent
April 19, 2017 / 6:19 AM / 7 months ago

Zalando Q1 sales growth 22 to 24 percent

BERLIN, April 19 (Reuters) - Zalando, Europe’s biggest pure online fashion retailer, said on Wednesday first-quarter sales growth slowed slightly as it confirmed full-year targets.

Zalando said sales rose a preliminary 22 to 24 percent to 971 to 987 million euros ($1.04-1.06 billion), compared to a Thomson Reuters Smart Estimate for 982 million euros, against a growth rate of 24 percent a year ago and down from a rate of 26 percent in the fourth quarter of 2016.

Zalando, which reports final quarterly results on May 9, said it expected its first quarter margin on adjusted earnings before interest and taxation (EBIT) to come in at 1 to 3 percent, compared to a Smart Estimate for 3 percent.

Zalando reiterated a forecast for 2017 sales growth of 20 to 25 percent in 2017 and an EBIT margin of 5 to 6 percent.

$1 = 0.9331 euros Reporting by Victoria Bryan; Editing by Maria Sheahan

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