Zalando Says Bill-Me-Later Payment Plan Weighed on Earnings
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Zalando SE indicated that second-quarter earnings may have declined as the German online fashion retailer had higher costs from consumers buying on a bill-me-later plan, which entails higher payment risks.
Zalando estimates adjusted second-quarter earnings before interest and taxes will be 22 million euros ($24 million) to 37 million euros, the company said in a statement on Tuesday. Analysts surveyed by Bloomberg had expected profit of 34.3 million euros, and the year-earlier figure was 35 million euros. The stock fell as much as 5.5 percent.