Zalando lifts earnings forecast, third quarter growth disappoints

Zalando, Europe's biggest pure online fashion retailer, reported a slowdown in sales growth in the third quarter, but said it had improved profitability, allowing it to lift its guidance for 2016 for a second time. In a statement issued late on Tuesday night ahead of a scheduled trading update on Wednesday, Zalando said sales rose 16-18 percent, slowing from 25 percent in the second quarter as the fashion industry suffered from unseasonably warm weather. It reiterated that it expects sales growt