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The news had an immediate impact on shares in London as investors braced for potential warnings ( Zalando ) A second profit warning from Europe’s biggest online fashion retailer in as many months sent tremors through shares in London peers on Tuesday. German-listed Zalando slashed its full-year outlook again on Tuesday, wiping 16% off the share price of a company which turned over €4.5 billion (£4 billion) last year. The news had an immediate impact on shares in London as investors braced for potential warnings. Online retailer ASOS fell 292p to 5754p or 5%, while MySale fell 0.7p to 55.3p. Traditional retailers Marks & Spencer fell 3.9p to 280.9p, and Next dipped 36p to 5336p. Zalando boss Rubin Ritter blamed the long hot summer for lower sales of higher-priced cold-weather clothes, with the temperature hitting 28C in Berlin today. “We don’t know when the season will start and when fall/winter will actually kick in. This is a problem for the entire industry,” he said. Zalando now expects a loss in the current quarter and profits this year to be between €150 million and €190 million — around €80 million short of previous estimates. Ritter added that Zalando still expects to double sales by 2020.
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