Zalando Profits: Online fashion retailer Zalando to focus on profitability after 2022 slump
Zalando, Europe's biggest online fashion retailer, will focus on improving profitability this year after a profit slump and stagnating sales last year.The company's adjusted group earnings before interest and tax (EBIT) plunged by 60.1% last year to €184.6 million ($197.3 million) on revenue down 0.1%, it said on Tuesday, in line with guidance updated in November.The EBIT margin was 1.8%, compared with 4.5% in 2021, but the company's profitability push - including jobs cuts announced last month - is expected to help it to…