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Zalando reports jump in quarterly sales and profits

Online fashion retailer Zalando has said it enjoyed an “outstanding” first half of 2016 with strong growth and profitability in its second quarter.

GENERAL MERCHANDISE

Zalando reports jump in quarterly sales and profits

Online fashion retailer Zalando has said it enjoyed an “outstanding” first half of 2016 with strong growth and profitability in its second quarter.

Revenues in the quarter climbed by 25% to €916.4 million while adjusted EBIT rose to €80.9 million compared to €30.2 million a year earlier.

Based on the first half performance, Zalando has reiterated its full year guidance of revenue growth at the upper end of its 20-25% growth corridor and has increased its full-year adjusted EBIT margin guidance to 4.0-5.5%.

The company said the sales growth was fuelled by investment in its customer proposition and its multi-year platform strategy.

Speaking on behalf of Zalando’s management board, Rubin Ritter said: “We are very proud of our first half results. They reflect strong customer momentum with strong growth at scale. Despite ongoing investments into our long-term growth strategy, our business showed increased strength and profitability.”

Zalando’s ongoing push towards mobile has led to a doubling of app downloads in the past 12 months, supporting a 90% growth in app orders year-on-year.

The number of active customers grew to a record 18.8 million by the end of the second quarter, with average orders per active customer reaching an all-time high of 3.3 orders per annum.

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