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Zalando’s First-Quarter Sales Surge

Reuters

20 April 2021

German online fashion retailer Zalando’s on Tuesday said revenue soared by 46 to 48 percent in the first quarter, boosted by coronavirus lockdowns.

Europe’s biggest online-only fashion retailer’s preliminary first-quarter figures said sales totalled €2.22 to €2.26 billion ($2.67 billion to $2.72 billion), while gross merchandise volume (GMV) — sales on its site made by the company or its partners — rose by more than half to €3.13 to €3.17 billion.

Last month, Zalando said it expected GMV to increase by 27 to 32 percent to between €13.6 to €14.1 billion in 2021.

For the first quarter of 2021, Zalando said it expected adjusted earnings before interest and tax of €80 to €100 million, versus a loss of €98.6 million in the year-earlier period.

Zalando plans to publish full first-quarter results on May 6.

By Arno Schuetze; Editors: David Goodman and Jane Merriman

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