Video PlayerClose BERLIN, Feb. 28 (Xinhua) — Despite heavy losses and weak revenue growth in the third quarter of 2018, German online retailer Zalando finished 2018 with total sales of 5.4 billion euros (6.15 billion U.S. dollars), the company announced on Thursday. “2018 had its challenges, but we focused our efforts in the fourth quarter to pull off a strong finish to the year,” said Zalando co-chief executive officer (CEO) Rubin Ritter. Sales around the important Christmas season rose by 24.6 percent year on year to around 1.7 billion euros. During 2018, the European largest online fashion retailer recorded around one billion website visits and acquired 1.3 million new customers, the highest quarterly increase of new customers in five years. Zalando recorded an operating result (EBIT) of 173.4 million euros and thereby achieved its financial target of 150 to 190 million euros. In 2017, Zalando had been able to generate operating profits of 215 million euros. For the running fiscal year 2019, Zalando expects its sales to grow by 20 to 25 percent and is looking to improve EBIT to 175 to 225 million euros while at the same time investing an additional 300 million euros into logistics and technology…. Read full this story
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