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Zalando to launch beauty range as sales grow fast
October 18, 2017 / 6:19 AM / a month ago

Zalando to launch beauty range as sales grow fast

BERLIN, Oct 18 (Reuters) - German online fashion retailer Zalando announced plans on Wednesday to launch a line of beauty products next year as it reported preliminary third-quarter sales growth above expectations, but weaker profits.

Zalando, which reports full results on Nov. 7, expects sales to come in at 1.064 billion-1.081 billion euros ($1.25 billion -1.27 billion), a rise of between 27.5 and 29.5 percent, a big acceleration from 20 percent growth in the second quarter.

That is the highest growth since the fourth quarter of 2015 and beats average analyst forecasts for 1.058 billion, according to Thomson Reuters Smart Estimates.

However, earnings before interest and taxation are expected at between negative 5 million and positive 5 million euros, missing average analyst forecasts for 8 million as the firm invests heavily in logistics, technology and new products. ($1 = 0.8499 euros) (Reporting by Emma Thomasson; Editing by Ludwig Burger)

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