Zalando shares tumble

Zalando shares tumble

Zalando, the German online retailer, who just announced its cancellation of the Bread && Butter event in Berlin has further bad news.
On Monday, Dec. 17th 2018 Zalando slipped 18% on the stock market. This is almost the lowest level, since its stock market debut 2014. Bad numbers in fashion retail are given as a reason. ASOS, the UK competition to Zalando was equally shocking the market with a turnover and profit warnings.
ASOS made a significant decrease in the fashion environment responsible. Its shares lost around 38% in London. In light of ASOS problems, also shares of Hugo Boss, adidas and PUMA lost. Since months bad news from the fashion retail segment are making the round. Last week Sportsdirect and Superdry published bad news and so did in Germany Tom Taylor.
We got used to bad news by classic brick-and-mortar retailers, but now even online retailers like Zalando and ASOS are getting under pressure.