January 17, 2018 / 7:25 AM / 9 months ago

Zalando says to pursue ‍focus on growth in 2018​

BERLIN, Jan 17 (Reuters) - German online fashion retailer Zalando said it would push ahead with its strategy of investing to gain market share in 2018 as it reported preliminary fourth-quarter sales growth and operating profit in line with analyst expectations.

Zalando said quarterly sales rose between 21.2 and 23.2 percent to 1.323 billion euros to 1.345 billion euros ($1.62 billion to 1.64 billion), compared with average Thomson Reuters Eikon analyst expectations for 1.345 billion euros.

It said adjusted earnings before interest and taxation (EBIT) should come in between 107 million and 120 million euros, compared with mean analyst forecasts for 114 million. It reports full results on March 1 along with forecasts for 2018.

As Amazon has made a big push into fashion, Zalando has been investing heavily in logistics and technology, denting its profitability and prompting analysts to question its medium-term target to improve its operating margin.

$1 = 0.8185 euros Reporting by Emma Thomasson; Editing by Ludwig Burger

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