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Zalando posts third quarter growth as number of active customers exceeds 50 million

Zalando has grown its third quarter sales by 2.9% to €2.35 billion after its number of active customers exceeded 50 million for the first time. The… View Article

FASHION

Zalando posts third quarter growth as number of active customers exceeds 50 million

Zalando has grown its third quarter sales by 2.9% to €2.35 billion after its number of active customers exceeded 50 million for the first time.

The company’s Plus loyalty programme also performed well by almost tripling its membership.

In addition, Zalando increased its adjusted EBIT to €13.5 million from €9.8 million in the same quarter a year ago, while GMV rose by 7.1% to €3.28 billion.

Robert Gentz, co-chief executive at Zalando, said: “I am proud that we are reaching 50 million active customers and of our progress in deepening our relationships with them. We will continue to carefully navigate through these turbulent times, pushing forward with measures to improve profitability as well as strategic initiatives that inspire and engage with our customers.”

The company said the introduction of a minimum order value has encouraged customers to increase the size of their basket or pay a delivery fee. As a result, orders below the minimum order value are now profitable.

Zalando also made a number of marketing efficiencies in the period, with costs reducing by almost €100 million so far this year. In addition, the company drove improvements across its European logistics network including managing excess inventory.

The company’s chief financial officer Sandra Dembeck said: “With consumer confidence at new lows and ongoing inflation, it was a prudent decision to start early with decisive action and measures to support profitability.

“Although it’s not crystal clear how consumer spending will play out in the final quarter, we are working hard to execute and deliver on our strategic priorities and financial outlook.”

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