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Zalando expects FY'18 revenue at lower half of target range

German online fashion retailer Zalando SE said Aug. 7 that it expects its revenue growth for 2018 to be in the lower half of its 20% to 25% target range and its adjusted EBIT to be at the low end of its guidance range of €220 million to €270 million.

The projection comes as Zalando's revenue for the quarter missed analyst expectations. The company's second-quarter revenue came in at €1.33 billion, a 20.9% year-over-year increase from 1.10 billion, but missing the S&P Global Market Intelligence consensus revenue estimate of €1.37 billion.

However, the retailer posted an increase in adjusted EBIT to €94 million, compared to €81.8 million in the year-ago period. Net income for the three-month period also increased year over year to €51.8 million from 47.4 million.

During the quarter, Zalando launched its online fashion store in Ireland and the Czech Republic, expanding its presence to 17 European countries.