German online fashion retailer Zalando raises full year guidance
Reuters
Published Jul 15, 2020 03:25PM ET
(Reuters) - German online fashion retailer Zalando (DE:ZALG) late on Wednesday increased its full year earnings guidance, as the coronavirus pandemic prompts more people to shop online.
The company said it expects to grow gross merchandise volume (GMV) by 20% to 25% and revenue by 15% to 20% in 2020, up from its guidance from May 6 when the company had expected GMV and revenue growth of 10% to 20%.
Europe's biggest online-only fashion retailer said it expects adjusted earnings before interest and tax (EBIT) of 250-300 million euros for the full year.
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Written By: Reuters
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