Retailer Zalando Launches AI Shopping Agent as Margins Squeezed
Top European online fashion retailer Zalando on Tuesday launched its first AI shopping agent amid concerns that artificial intelligence could disrupt online retail, after reporting third-quarter gross margin below market expectations. Shares in the German company fell 5% in early trading. Zalando reported a gross profit margin of 38.7% in the quarter, missing expectations partly due to investments, analysts at Jefferies and JPMorgan said in notes to clients.
