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