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Zalando expects to make first annual profit as losses narrow

Etailer Zalando expects its full year to be “slightly profitable” for the first time after losses narrowed in the third quarter.

Full-year revenue is expected to increase by 25% as loss before interest and taxes narrowed to €2.56m (£2m) for the three months to September 30, from a loss of €50.9m (£40.4) the year before.

Sales rose 24% to €501.4m (£398.3m) during the quarter.

Rubin Ritter, a director and member of the etailer’s management board, said: “Zalando’s revenue growth continued to outpace the overall online fashion industry, which faced a difficult start to autumn due to unseasonably mild weather.”

Zalando said this week it will start selling Gap clothing in Europe from summer 2015.

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