Zalando delivers on profitable growth
Online fashion retailer Zalando has reported that its revenues grew by 23.1% to €980.2 million in its first quarter.
Adjusted EBIT remained level with the previous year at €20.3 million with a margin of 2.1%.
The company now expects full year revenue growth in a range of 20-25% and an adjusted EBIT margin in the range of 5-6%.
“Our key priority is profitable growth, and that is what we delivered on in the first quarter,” said co-chief executive Rubin Ritter. “We are determined to win further market share and reach more customers across Europe. That is why we will continue investing in the consumer experience, our technology and logistics infrastructure, as well as our brand partner proposition.”
Zalando grew its customer number to in excess of 20 million in the period.
