|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||13.38 - 13.96|
|52 Week Range||12.05 - 62.11|
|Beta (5Y Monthly)||1.14|
|PE Ratio (TTM)||50.06|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
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Shares in Zalando plunged almost a fifth on Friday before staging a late recovery after Europe’s largest online fashion retailer slashed its outlook for the year as consumers retrench amid deepening recession fears. This followed a much weaker second quarter than expected, an abrupt reversal from just four months ago when Zalando forecast growth of 12 to 19 per cent. In a bleak warning issued after markets closed on Thursday, Zalando said that “management now expects macroeconomic challenges to be longer-lasting and more intense than previously anticipated”.
The pan-European STOXX 600 index marked its best session in more than three months. The benchmark, which until Thursday was down on the week, posted weekly gains of 2.4% thanks to Friday's surge, breaking a three-week losing streak.
Shares of German online retailer Zalando SE plunged in Friday morning trading a day after the company reported a weaker-than-expected second quarter, which led it to cut forecasts for the year as consumers are shopping less amid rising inflation and growing recession risks. Zalando said it had a profitable but weaker-than-expected second quarter, with sales and earnings coming in well below analysts' forecasts. The company downgraded its forecasts for the year as it "no longer assumes a rebound of consumer confidence in the short term."