Zalando Cuts Profit Forecast, Blaming Weakening Economic Trend

Zalando SE slashed its profit forecast, blaming worse-than-anticipated macroeconomic conditions that are holding back online fashion sales.

The retailer said late Thursday that it expects full-year adjusted earnings of 180 million euros ($190 million) to 260 million euros, well below previous guidance in May of 430 million euros to 510 million euros. The second quarter is still profitable, but weaker than expected, Zalando said.