Zalando anticipates coronavirus hit to Q1 sales and profit

Zalando SE expects its outcomes for the first quarter to be significantly under the analysts’ consensus of March 11, which didn't yet take into consideration the consequences of the coronavirus. The corporate stated in a press release that this is because of decrease discretionary spending by European shoppers because of the measures taken by European governments since March 9 towards the spread of the coronavirus.

The corporate expects revenue and gross merchandise volume (GMV) progress to be considerably under the analysts’ consensus of March 11, regardless of a robust start to the yr. The company added that adjusted EBIT can also be negatively impacted by lower gross sales progress within the first quarter and an distinctive write-down of inventories because of the revised gross sales expectations for the present season.

The median of the analysts’ consensus as of March 11, 2020 was 19 % for revenue progress, 22.eight % for GMV progress and adjusted EBIT of unfavourable 28 million euros. Based mostly on the present state of affairs, the company assumes that the revealed forecast cannot be achieved.

Image:Zalando SE

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