Zalando plunges in early trade after lowering outlook
BUZZ-Zalando plunges in early trade after lowering outlook ** Zalando ZALG.DE shares drop 7.5% in early Frankfurt trade after the online fashion retailer lowered its growth and earnings outlook for the current year
** The German company said on Tuesday it expects both annual gross merchandise volume (GMV) and revenue in the lower half of its previous 12% to 17% range
** "Cut of GMV outlook will not help today even though market expected a cut," a local trader said
** Zalando also narrowed its forecast for 2026 EBIT to between €680 million and €720 million ($782-829 million) from a previously targeted range of €660 million to €740 million
** Jefferies says analyst consensus sits at the midpoint of the new range
** The broker expects the "elevated long positioning" to weigh on Zalando's share price today
(Reporting by Danny Callaghan)
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