Investing.com - Retailers were among the worst performers in European midday trade on Tuesday, as investors punished a number of companies that missed earnings expectations.
Shares in Pandora (CO:PNDORA) tumbled more than 8% in Copenhagen by 6:40AM (1140GMT), after the Danish jewellery maker slashed its 2018 sales outlook for the second consecutive quarter.
Zalando SE (DE:ZALG) shares sank 7.5% in Germany after the Berlin-based online retailer posted a net loss in the third quarter, as unusually warm weather weighed.
Co-CEO Rubin Ritter said the company is "clearly not happy" with its results and is focused on improving revenue growth in the fourth quarter.
Staying in Germany, Hugo Boss AG (DE:BOSSn) said that its third-quarter net profit fell, prompting it to downwardly revise its full-year outlook. "The long, hot summer in Europe affected our business," Mark Langer, chief executive of Hugo Boss, said. Shares were off by around 1.5%.
Meanwhile, in London, WM Morrison (LON:MRW), the operator of the Morrisons supermarket chain, dropped 5% after the FTSE-100 listed retailer reported lower sales growth in the last quarter.