The Düsseldorf online retailer Fashionette AG lowered its forecasts for the current 2022 financial year on Tuesday evening. The company justified the step in an ad hoc announcement by stating that customer demand in the fourth quarter so far “due to restrained consumer behavior fell short of original expectations”.
The Management Board is “currently no longer assuming that the restrained customer demand described will revive noticeably in the remaining weeks of the year due to the difficult macroeconomic environment and that the company’s original forecast for the 2022 financial year can still be achieved,” admitted the e-commerce specialist.
For 2022 as a whole, management now only expects sales growth of 23 to 31 percent to 165 to 175 million euros, after previously expecting an increase of 34 to 40 percent to 180 to 187 million euros. The forecast range for earnings before interest, taxes, depreciation and amortization (EBITDA) adjusted for special effects was reduced from EUR 5 to 7.5 million to EUR 1 to 4 million.
According to the company, sales increased by 38.9 percent to EUR 112.0 million in the first nine months of the year. The online retailer intends to present its full figures for the third quarter next Tuesday.