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Zalando hails strong start to 2016

Online fashion retailer Zalando has said its first quarter revenue grew by between 22.5% and 24.5% to between €788 to €801 million, according to preliminary figures.

GENERAL MERCHANDISE

Zalando hails strong start to 2016

Online fashion retailer Zalando has said its first quarter revenue grew by between 22.5% and 24.5% to between €788 to €801 million, according to preliminary figures.

The company expects to achieve an adjusted EBIT of €12 to €28 million, corresponding to an adjusted EBIT margin of 1.5% to 3.5%.

Rubin Ritter, member of the Zalando management board, said: “Zalando has been off to a really good start in 2016. We have picked up speed again since the typically slower Easter Holidays at the end of the first quarter of 2016. We are well on track to deliver on our promise of strong growth and solid profitability for the full year.”

Zalando has reiterated its full-year guidance of revenue growth at the upper end of the 20% to 25% corridor and adjusted EBIT margin of 3% to 4.5%.

The company’s full first quarter figures will published on 12 May.

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