Zalando: Rallies after 'very strong' outlook, 2025 targets
16/03/2021 08:41
(Updates share move; adds details, broker's comments, peers'
share move)
** Shares in Zalando ZALG.DE jump 5% after the German
online fashion retailer posted better-than-expected revenue
outlook for 2021, set a new 2025 target for gross merchandise
volume
** It sees GMV to likely increase 27%-32% at 13.6-14.1 bln
euros in 2021, above average analyst estimates of 25% growth
urn:newsml:reuters.com:*:nL1N2LD1YD, while it expects GMV to exceed 30 bln euros by
2025 urn:newsml:reuters.com:*:nL8N2LE1IK
** Baader Helvea points to a very strong guidance for 2021,
2025 and long-term, noting it clearly exceeds consensus'
expectations
** Zalando also said it aims to capture more than 10% of the
450 billion euro ($537 billion) European fashion market in the
longer term
** According to Baader Helvea's analyst Volker Bosse, this
could mean that Zalando expects GMV of around EUR 50 billion by
2030
** Zalando's stock is on track for its best day in about 3
months, while shares in Swedish peer Boozt BOOZT.ST and
fashion giant H&M's HMb.ST rise 3%, German fashion house Hugo
Boss BOSSn.DE is up 4.9%
** Swedish investment firm Kinnevik KINVb.ST , which holds
a 21% stake in Zalando, is up 2.4%
((Linda.pasquini@thomsonreuters.com))