Zalando Cuts FY Outlook

Zalando SE (ZALNDY), online platform for fashion and lifestyle in Europe, said it cut its guidance for fiscal year 2022, as the company no longer assumes a rebound of consumer confidence in the short-term.

The company now expects Gross Merchandise Volume or GMV to grow 3%-7% to 14.8 billion euros- 15.3 billion euros for the financial year 2022. Revenue is expected to grow 0%-3% to 10.4 billion euros -10.7 billion euros with an adjusted EBIT of 180 euros-260 million euros in the same period. CAPEX is expected to be in the range of 350 million euros - 400 million euros.

Previously on May 5, 2022 the company's guidance for 2022 pointed towards the lower end of 16%-23% for GMV growth, 12%-19% for revenue growth, and an adjusted EBIT of 430 million euros -510 million euros and CAPEX of 400 million euros-500 million euros.

For the second quarter 2022, the company expects Gross Merchandise Volume (GMV) growth, revenue growth and adjusted EBIT to be significantly below analyst estimates. The second quarter is profitable but weaker than expected.

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