Zalando Forecast of Higher Sales, Levi Deal in US Boosts Shares

Zalando SE forecast profit and sales will rise this fiscal year as it announced a €300 million ($346 million) share buyback and signed the first major US customer for its business-to-business software platform.

The Berlin-based company said sales and profit will grow this year as it builds on a performance at the end of last year that Jefferies analysts called “impressive.” Zalando also said jeans maker Levi Strauss & Co. has become the first major US customer for its business-to-business software Scayle, aiding the German company’s strategy to expand beyond its consumer-facing shopping platform.

The deal will see Scayle power ...