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Online fashion retailer Zalando’s profit falls as in-store sales rebound
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The logo of fashion retailer Zalando is pictured at the new headquarters in Berlin, Germany, April 10, 2019. REUTERS/Hannibal Hanschke

  • Q3 sales 2.3 bln euros vs analyst consensus for 2.24 bln
  • Q3 adj. EBIT 9.8 mln euros vs 118 mln in Q3 2020
  • 2021 outlook confirmed

BERLIN, Nov 3 (Reuters) – German online fashion retailer Zalando (ZALG.DE) reported a slump in quarterly profit on Wednesday as it offered discounts to try to keep customers shopping online after physical stores reopened following the easing of coronavirus lockdowns.

Europe’s biggest fashion e-commerce player said its third-quarter adjusted operating profit fell to 9.8 million euros ($11.35 million) from 118 million a year ago, while sales rose 23% to 2.3 billion euros, slightly ahead of analysts’ average estimate of 2.24 billion.

Zalando said its operating profit was in line with the number it posted in the third quarter of 2019, before the pandemic helped

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