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Zalando's first half revenues rise as it continues to invest for growth

Online fashion retailer Zalando has grown its first half revenues by 21-22% to €2.071 billion to €2.089 billion, according to preliminary figures.

FASHION

Zalando's first half revenues rise as it continues to invest for growth

Online fashion retailer Zalando has grown its first half revenues by 21-22% to €2.071 billion to €2.089 billion, according to preliminary figures.

The company is expecting adjusted EBIT for the period to come in at €100-106 million, with a margin of around 4.8-5.1%.

In the second quarter of 2017 the company’s revenues grew by 19-21% to €1.091 billion to £1.109 billion. Zalando achieved an adjusted EBIT of €80-86 million, corresponding to an adjusted EBIT margin of 7.3-7.8% for the same period.

Zalando co-chief executive Rubin Ritter said: “We are pleased with the performance in the first half of 2017 and continue to invest in order to meet our ambitious growth targets for the full year and beyond. In the fast-growing online segment, we continue to outperform the market and deliver on our 20-25% growth corridor. Our investments, for example in our fulfilment capabilities and the launch of our membership programme Zalando Zet, are the cornerstones for future growth.”

Zalando Zet offers customised premium services such as faster delivery, including same day, pick-up of returns on demand, as well as additional benefits such as personal fashion advice or early access to sales. In the first phase customers in the German cities of Berlin, Leipzig, Frankfurt and Hanover will be able to test the service for three months, after which time they can become members for €19 per year.

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