Retailer About You shares jump on higher outlook, strong results

ABOUT YOU Holding SE

28/09/2021 11:19

Sept 28 (Reuters) - German online fashion retailer About You
 YOUG.DE  raised its full-year sales outlook on Tuesday after
posting strong second-quarter revenue growth, saying the easing
of COVID-19 restrictions had boosted fashion shopping.
    The retailer, which went public in June this year and was
added to the German small-cap  .SDAXI  index this month,
reported second-quarter sales growth of 51.1%-55%, and now
expects to reach a full-year sales growth range of 48%-52%. 
 urn:newsml:reuters.com:*:nS8N2MY0AW
    The group's shares were up 3.5% in morning trading.
    Chief Executive Tarek Mueller told Reuters that the group is
planning to ramp up its marketing activities in several European
countries - from Spain to Finland - before the Christmas season.
    "Right now it is a good time to expand," he said, "People
want to go shopping online." He said that thanks to technology
and a high level of automation, the group could ramp up in many
markets at the same time.
    About You competes with Zalando  ZALG.DE  in the consumer
segment while its business-to-business platform pits it against
Shopify  SHOP.TO , SAP  SAPG.DE  and Salesforce  CRM.N .


 (Reporting by Veronica Snoj and Nadine Schimroszik;
Editing by Bernadette Baum)
 ((veronica.snoj@thomsonreuters.com; +48 58 769 65 89;))