The Hamburg fashion retailer About You barely grew before it was taken over by Zalando.
In the third quarter to the end of November, the company achieved sales of almost 559 million euros, 1.3 percent more than a year earlier, as it announced on Thursday. The management explained this with the late location of the Black Weekend, which will only be reflected in the figures in the following quarter. This refers to the time when companies lure customers with large promotions and promises of discounts and generally make a lot of sales.
Operating profit before interest, taxes, depreciation and amortization adjusted for special items rose by 1.7 percent to 20.1 million euros. The bottom line is that About You was able to reduce its loss from 10.4 to 3.9 million euros.
For the current financial year until the end of February, the board continues to expect sales growth of one to seven percent. The adjusted operating profit should reach 15 to 35 million euros.
The Berlin fashion retailer Zalando announced in December that it wanted to incorporate About You. Zalando’s bid of 6.50 euros per share values About You at a total of around 1.2 billion euros. (dpa)