Zalando shrugs off Amazon threat to lift profit forecast

By Emma Thomasson BERLIN (Reuters) – Zalando , Europe's biggest pure online fashion retailer, raised its full-year profit forecast on Tuesday after posting strong second quarter results, easing concerns about the threat posed by Amazon to its business. Zalando's shares, which have tumbled this year as investors have expressed fears it is more exposed to Amazon's foray into fashion than British rival ASOS , soared more than 17 percent to 31.40 euros by 0745 GMT, while ASOS rose 0.9 percent. "Concern has been growing on EBIT margin development and threat from Amazon and this upgraded guidance will provide a good relief rally," said UBS analyst Adam Cochrane.

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