Zalando warning sends shares below 2014 listing price before late revival

Shares in Zalando plunged almost a fifth on Friday before staging a late recovery after Europe’s largest online fashion retailer slashed its outlook for the year as consumers retrench amid deepening recession fears.

The Berlin-based company’s stock, however, finished the day only 2 per cent lower at €25.14, after it warned that revenues may not increase at all this year.

This followed a much weaker second quarter than expected, an…