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Zalando optimistic for 2015 after strong first quarter

German online fashion retailer Zalando has said it is optimistic for 2015 after it experienced a strong first quarter.

GENERAL MERCHANDISE

Zalando optimistic for 2015 after strong first quarter

The company now expects revenue growth to be in the range of 20 to 25%, or slightly above, if the current momentum continues.

Due to Zalando’s strong start to the spring/summer season, revenues in the first quarter rose by 28.5% to €644 million, thereby exceeding the predicted growth of 20-25%. Growth was particularly strong in Zalando’s international markets. 

Earnings before interest and tax reached €29 million compared with a loss €23 million in the prior year. Given the better-than-expected first quarter results, Zalando has raised its adjusted EBIT margin guidance to around 4.5% for the financial year.

Rubin Ritter, member of the Zalando management board, said: "We have started full speed into the financial year 2015 and the results in the first quarter mark a new record. We are optimistic about the remainder of the year.

“In the coming months, we will continue to invest into optimizing our customer experience and into strengthening our international growth. The opening of our tech hub in Dublin in April was only a first step.”

 

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