German online fashion retailer Zalando on Wednesday forecast a return to growth this year and said it was opening up its logistics business to more players, raising hopes of a boost to its performance and helping to lift its shares. The stock jumped as much as 18.5% after the company also said late Tuesday it would buy back up to 100 million euros ($109 million) of shares, starting from March 13.
Zalando said on Wednesday it expected gross merchandise value (GMV) growth, a key metric measuring the value of all goods sold, of between 0% and 5% this year, after a 1.1% decline to 14.6 billion euros in 2023.
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French grocers may benefit from the
country s demand that big food producers impose price cuts as
sales of supermarket own brand products rise and the major
manufacturers are driven to become more.