Online retailers haven’t so far been properly tested by a consumer-spending downturn. Early signs from Europe suggest they won’t be as resilient as tech bulls might hope. Roughly $3 billion has been wiped from the value of shares of ASOS and Zalando, two major European online fashion retailers, this week after the former flagged a slowdown on Monday. ASOS was hit by dismal demand in November, just like regular malls and bricks-and-mortar stores. The London-based company, which specializes in cheap but trendy clothes for 20-somethings,...

Source: Wall Street Journal December 20, 2018 10:41 UTC