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Zalando grows sales and customer base

Online fashion retailer Zalando grew its first half revenue by 21.5% to €2.08 billion as it continues to expand.

FASHION

Zalando grows sales and customer base

Online fashion retailer Zalando grew its first half revenue by 21.5% to €2.08 billion as it continues to expand.

During the period, adjusted EBIT remained on prior year levels at €102.1 million.

For the full year, Zalando expects its revenue growth to be in the upper half of its guided range of 20-25% and that adjusted EBIT margin will be in the lower half of its 5-6% range.

Zalando is planning to extend its European fulfilment network with two large facilities in Poland and Italy. The retailer already operates sites of a similar size in Erfurt, Mönchengladbach and Lahr and is planning to launch initial operations at a new site in Gryfino in Poland in the third quarter of 2017.

Rubin Ritter, co-chief executive of Zalando, said: “We firmly believe that growth is the right strategy to increase the value of our business. Our updated guidance reflects our focus on growth at solid profitability levels. It is in our DNA to continuously evaluate additional investment opportunities, test ideas, and then start scaling them. This can range from assortment additions to our recently launched customer loyalty program Zalando Zet.”

In the second quarter of 2017, the number of Zalando’s active customers increased by approximately 800,000 to 21.2 million. This was the strongest growth since the fourth quarter 2015.

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