Zalando reports strong revenue growth
Online fashion retailer Zalando grew its gross merchandise volume by 23.1% to €1.8 billion in its first quarter as revenue climbed by 15.2% to €1.4 billion.
Meanwhile, adjusted EBIT came in at €6.4 million in the period.
During the quarter, Zalando increased its number of active customers by 14.1% to 27.2 million and site visits by 29.5% to 924 million. The retailer said customers ordered more frequently in the period and that customer satisfaction hit an all-time high.
Zalando is planning to deepen its customer relationships further by extending its Zalando Plus loyalty scheme to France and Italy in the next 12 months. The scheme is already available for all Zalando customers in Germany and a pilot project is now live in Switzerland.
Rubin Ritter, co-chief executive of Zalando, said: “Our clear customer focus has paid off in the first quarter, as we made further headway to build the starting point for fashion in Europe.”
Zalando has confirmed its full-year guidance of gross merchandise volume growth of between 20% and 25% and revenue growth at the low end of this range.
The retailer’s chief financial officer David Schröder said: “We are happy with our financial results in the first quarter, which show a strong focus on growth and are in line with our annual guidance. We will continue to invest in areas of our business that have high added value for our customers.”
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