(CercleFinance.com) – The stock fell by nearly 11% after the announcement of the results for the 1st quarter of 2022. The group announced an adjusted EBIT of -51.8 E, far from the gain of 93.3 ME in the 1st quarter 2021 and a net loss of 61.3 ME, against a profit of 34.5 ME twelve months ago.
For the 2022 financial year, Zalando anticipates an adjusted EBIT at the lower end of a range of 430 to 510 ME.
Liberum lowers its price target from 90 to 82 euros after the publication of quarterly results. The analyst, however, retains his advice to buy the stock.
While the German online clothing retailer has lowered its forecast to the bottom of its previous range, the broker takes a more cautious view with an adjusted EBIT forecast 7% below the group’s target range.
“We continue to believe that Zalando offers the best way to play in the European fashion market and that its gradual transition to a product and service company will lead to a sustainably profitable business.”
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