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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… View Article

FASHION

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.

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