Zalando reports increased revenue
Online fashion retailer Zalando grew its first quarter revenues by 22-24% to €971-987 million, according to preliminary figures.
Zalando expects to achieve an adjusted EBIT of €10-30 million, corresponding to an adjusted EBIT margin of 1-3% for the period. The company has given full-year guidance of revenue growth in a range of 20-25% and an adjusted EBIT margin in the range of 5-6%.
Zalando's co-chief executive Rubin Ritter said: “We continue to successfully execute towards our goals and started 2017 with strong growth momentum. We are fully on track with our long-term aspirations and keep expanding our business at high speed, while investing into our consumer experience and brand partner proposition.”
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