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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  ASOS plc    ASC   GB0030927254

ASOS PLC (ASC)
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Delayed Quote. Delayed  - 10/15 05:35:15 pm
4974 GBp   -0.64%
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Zalando lowers 2017 profit guidance after weak October

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11/07/2017 | 09:40am CEST
FILE PHOTO: A Zalando label lies on an item of clothing in a showroom of the fashion retailer Zalando in Berlin

BERLIN (Reuters) - German online fashion retailer Zalando (>> Zalando) warned on Tuesday that its full-year operating profit margin would be lower than expected after trading in October was weaker than forecast.

BERLIN (Reuters) - German online fashion retailer Zalando (>> Zalando) warned on Tuesday that its full-year operating profit margin would be lower than expected after trading in October was weaker than forecast.

Shares in Zalando, which dipped last month when it reported preliminary figures, were down 4.3 percent in early trading.

Zalando, which has seen its profitability dented by heavy investments in logistics and technology as Amazon (>> Amazon.com) makes a big push into fashion, said construction would start this month on a second fulfilment hub in Poland.

Zalando said third-quarter sales rose 29 percent to 1.075 billion euros (947.96 million pounds). Adjusted earnings before interest and taxation (EBIT) came in at 0.4 million euros, missing average analyst expectations for 2.3 million.

Zalando continues to expect full-year revenue growth in the upper half of a 20 to 25 percent range, but forecast its adjusted EBIT margin would come in slightly below 5 percent, under its previous forecast at the lower end of a 5 to 6 percent range.

Zalando sales were weak in October due to unseasonally warm weather, co-Chief Executive Rubin Ritter told a conference call for journalists.

British rival ASOS (>> ASOS plc) last month raised its sales growth forecast for the financial year from Sept. 1 to 25-30 percent, from a previous 20-25 percent, and said it expected a stable operating profit margin of 4 percent.

Zalando said it had 22.2 million active customers at the end of the quarter, a rise on 15.7 percent since the same period last year and the strongest growth since the second quarter of 2015.

It said investment would continue through the fourth quarter and beyond after new logistic sites started up in Sweden and Poland, reiterating that it expects about 250 million euros in capital expenditure in 2017, including acquisitions.

(Reporting by Emma Thomasson; Editing by Maria Sheahan and Keith Weir)

Stocks treated in this article : ASOS plc, Amazon.com, Zalando
Stocks mentioned in the article
ChangeLast1st jan.
AMAZON.COM -1.55% 1760.95 Delayed Quote.50.58%
ASOS PLC -0.64% 4974 Delayed Quote.-25.93%
ZALANDO -0.76% 32.57 Delayed Quote.-26.17%
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Financials (GBP)
Sales 2018 2 411 M
EBIT 2018 100 M
Net income 2018 81,0 M
Finance 2018 45,0 M
Yield 2018 -
P/E ratio 2018 51,79
P/E ratio 2019 41,90
EV / Sales 2018 1,71x
EV / Sales 2019 1,38x
Capitalization 4 160 M
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Mean consensus OUTPERFORM
Number of Analysts 25
Average target price 72,0  GBP
Spread / Average Target 45%
EPS Revisions
Managers
NameTitle
Nicholas Timothy Beighton Chief Executive Officer & Executive Director
Brian James McBride Non-Executive Chairman
Clifford Cohen Chief Information Officer
Nicholas John Robertson Non-Executive Director
Ian Dyson Senior Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
ASOS PLC-25.93%5 469
INDITEX - INDUSTRIA DE DISEÑO TEXTIL-15.44%87 862
KERING-5.62%55 421
FAST RETAILING CO LTD17.46%53 028
ROSS STORES20.41%35 216
GAP-20.38%10 245