Zalando's disappointing sales highlight competitive strains.
- Reuters - UK Focus•yesterday
BERLIN/STOCKHOLM, Jan 17 (Reuters) - Lower-than-expected quarterly sales hit shares in Zalando (Swiss: OXZALG.SW - news) , Europe's biggest pure online fashion retailer, which said it would open a new distribution centre in Sweden this year to speed up delivery across the Nordic region. Faster delivery is becoming a battleground for online retailers as Amazon makes a big push into fashion and sets the pace in logistics with its Prime Now service that offers deliveries within one hour in some European cities.
- Reuters - UK Focus•6 days ago
John Lewis, Britain biggest department store group, said it needed to invest heavily in its online business this year after 40 percent of total sales came from the internet over Christmas, showing the speed of change ripping through the retail industry. Britons have embraced online shopping in recent years, with consumers able to buy online and pick up goods in stores or at outlets such as petrol stations, railway stations or post offices. The planned investment and the impact of a weaker pound since Britain voted to leave the European Union in June would put pressure on profit.
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