TW Newsdesk, Aug 4: Zalando, is a German online fashion retailer on August 4. It had reported a 58% fall in operating profit for the second quarter as against the corresponding period in 2021.
Zalando said that it is expecting to return growth and improve profitability for the second half of the year. It attributed the fall to lower consumer confidence, inflation and supply bottlenecks hitting demand.
Zalando had confirmed its guidance provided on 23 June 2022 for the financial year 2022 with Gross Merchandise Volume (GMV). It is expected to grow 3-7% to €14.8 billion to €15.3 billion