Zalando breaks one billion Euro barrier in fourth quarter
Online fashion retailer Zalando has reported that its fourth quarter revenues grew by 25-26% to €1,086-1,094 million according to preliminary figures.
The company expects to achieve an adjusted EBIT of €81-104 million, corresponding to an adjusted EBIT margin of 7.5-9.5% for the period.
In the 2016 financial year, Zalando’s group revenues rose between between 22.9-23.1% to € 3,633-3,642 million in line with its full-year guidance. Profitability improved substantially, with adjusted EBIT approximately doubling to €202-225 million.
Rubin Ritter, co-chief executive of Zalando said: “We have completed a successful 2016. For the first time we broke the billion-euro revenue barrier in a single quarter, a clear result of our customer focus. We will continue to emphasize growth and further invest behind an ever-improving customer experience across all our markets.”
Zalando is planning to open a satellite warehouse in Sweden in 2017, similar to its satellite warehouses in France and Italy. The facility will be run by a service provider and will aim to improve the customer proposition in Zalando’s key markets in Sweden, Norway, Finland and Denmark.
