Zalando, Europe's biggest online-only fashion retailer, said it expected so...
BERLIN - Zalando, Europe’s biggest online-only fashion retailer, said it expected solid growth this year after sales rebounded in the fourth quarter and it won 1.3 million new customers, the biggest quarterly increase in five years.
Zalando shares had plunged 44 percent in the last year after the company cut its outlook twice, blaming slower sales growth on the unusually long, hot summer in Europe, with logistics costs rising as it faces rising competition from players such as Amazon.com. Morgan Stanley warned this week that the European online fashion market was more mature than previously thought, cutting its price targets for both Zalando and British rival ASOS .
Zalando said its sites had close to 1 billion visits in the fourth quarter and attracted 1.3 million new active customers.
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