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Zalando signals unexpected profit rise

Zalando has said it will make a profit in the first quarter of its financial year, beating analysts’ expectations.

The German etailer said it expects profits of up to £8.5m for the three months to 31 March.

Analysts had been expecting it to report a loss of £8.m, according to Reuters, after it discounted heavily to clear stock after Christmas.

Zalando said sales growth should meet market expectations, up 23% on the same period last year.

It will report its first quarter results on 2 May.

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