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Zalando says lockdowns are hitting demand

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Reuters API
Published
Mar 25, 2020
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German online fashion retailer Zalando said today that restrictions on public life were resulting in lower demand for its products. 


Zalando



Zalando said in a statement it had not seen any major impact from the coronavirus until shutdowns were imposed in several of its major markets in recent weeks. 

"Since the restrictions on public life, we have noticed negative effects in the form of lower demand in the affected areas," it said. 

Zalando, Europe's biggest online only fashion player, last month forecast sales growth of 15-20% for 2020, down from 20.3% in 2019, not taking into account any negative impact from the coronavirus. 

The company said it welcomed the fact that the European Union was keeping open its borders for logistics and commuters, as well as the fact essential services like parcel deliveries were still being allowed.

"These steps will be decisive to minimise the economic impact during the crisis," the company said.

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