Zalando Gains on German Online Retailer's Unexpected Profit
- Amazon competitor sees earnings of several million euros
- Company has been becoming more consistent in beating estimates
Inside Zalando SE's campus headquarters in Berlin.
Photographer: Jacobia Dahm/BloombergThis article is for subscribers only.
Zalando SE rose to a seven-month high after the German online fashion retailer unexpectedly said it was profitable in the first quarter, improving its track record of beating analysts’ estimates.
Adjusted operating profit was in the single-digit millions of euros, while analysts that the company surveyed had a consensus for a loss of 10 million euros ($11 million), Zalando said late Monday. The stock rose as much as 11 percent in Frankfurt on Tuesday.