Zalando has reported dropping profits and revenues as rising inflation and the cost-of-living crunch impacted its bottom line.
The German-based fashion retailer reported a 1.5% drop year on year in revenues to €2.2bn (£1.9bn) and a 2.4% slip in adjusted group EBIT to €51.8m (£49.2m) for the first quarter of the year.
Gross merchandise volumes were up 1% to €3.2bn (£2.7bn), but Zalando said it expected its full-year financial guidance for the year would be at the lower end of profitability between €430m (£364m) and €510m (£431m).
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