About You sales marginally increase ahead of Zalando takeover

Business

Credit: About You

Hamburg-based fashion retailer About You barely made any gains ahead of its takeover by Zalando.

In the third financial quarter to the end of November, the company generated sales of almost 559 million euros, 1.3 percent more than a year earlier, as it announced on Thursday. Management explained this with the late timing of Black Weekend, which will only be reflected in the figures in the following quarter. This refers to the period when companies attract customers with big promotions and promises of discounts, and usually make a lot of sales.

Adjusted for special items, operating profit before interest, taxes, depreciation and amortisation rose by 1.7 percent to 20.1 million euros. All in all, 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 management board continues to expect sales growth of one to seven percent. Adjusted operating profit is expected to reach 15 to 35 million euros.

The Berlin-based fashion retailer Zalando announced in December that it wanted to acquire About You. Zalando's bid of 6.50 euros per share values About You at a total of around 1.2 billion euros. (DPA)

This article originally appeared on FashionUnited.DE. It was translated to English using an AI tool called Genesis and edited by Rachel Douglass..

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