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BREAKING NEWS

Zalando targets more growth after strong end to 2018

Zalando targets more growth after strong end to 2018
FILE PHOTO: A Zalando label lies on an item of clothing in a showroom of the fashion retailer Zalando in Berlin October 14, 2014. REUTERS/Hannibal Hanschke/File Photo -
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BERLIN (Reuters) - Zalando, Europe's biggest online only fashion retailer, on Thursday said it expected sales to keep growing quickly in 2019 after it reported better-than-expected figures for the end of 2018 and attracted 1.3 million new customers.

Zalando reported fourth-quarter sales rebounded to rise 25 percent to 1.7 billion euros (1.45 billion pounds), while adjusted operating profit came in at 118 million euros, both ahead of average analyst forecasts.

For 2019, it is targeting growth in gross merchandise volume - the value of products sold on its site - of 20-25 percent, with revenue growth at the low end of the range, and an adjusted operating profit of 175 million euros to 225 million euros.

(Reporting by Emma Thomasson, editing by Riham Alkousaa)

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