Zalando hails strong third quarter
Zalando has posted a strong third quarter performance with its gross merchandise volume growing by 25.3% to €3.1 billion.
This was slightly above the company’s mid-term target growth corridor of 20% to 25%.
Meanwhile, adjusted EBIT came in at €9.8 million corresponding to a margin of 0.4%
Robert Gentz, Zalando co-chief executive, said: “Throughout the year we progressed strongly across all areas of our strategy, always keeping our focus on our long-term vision to be the Starting Point for Fashion and build a truly sustainable platform business with more than €30 billion in GMV by 2025. We are looking confidently ahead into 2022, with several strategic initiatives in the pipeline that will excite customers and partners alike and push our sustainability agenda further forward.”
Zalando grew its active customer base by 30.1% year-on-year to 46.3 million by the end of the quarter. It also benefited from customers ordering more frequently, with average orders per active customer reaching a new record of 5.1 orders over the past twelve months.
As a result of the performance in the period, the company has reiterated its upgraded outlook for its full financial year with gross merchandise volume growing 31%-36% to between €14 billion and €14.6 billion. Meanwhile, revenues are expected to climb between 26%-31% to between €10.1 billion and €10.5 billion with adjusted EBIT coming in the upper half of the guided range of €400 million to €475 million,
David Schröder, Zalando chief financial officer, said: “We are pleased to see our strong performance continue in the third quarter, the first quarter with economies fully reopened. Despite growing inflation and supply chain uncertainties, we remain confident to achieve our upgraded full-year outlook and are now looking forward to exciting our customers and supporting our partners over cyber week and the upcoming festive season.”
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