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Zalando shares rise after profit update

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By Reuters
Zalando shares rise after profit update
FILE PHOTO: The logo of fashion retailer Zalando is pictured at the new headquarters in Berlin, Germany, April 10, 2019. REUTERS/Hannibal Hanschke   -   Copyright  HANNIBAL HANSCHKE(Reuters)

BERLIN (Reuters) – Zalando shares were indicated to open 3.8 percent higher on Tuesday, after the German ecommerce company said it expected to post an operating profit for this first quarter.

The retailer said late on Monday it expected to get out of the red in the first quarter of 2019, seeing adjusted earnings before interests and taxes (EBIT) in the single-digit millions.

Analysts had forecast an operating loss, Zalando said, adding that it confirmed its full-year targets.

(Reporting by Tassilo Hummel; Editing by Caroline Copley)