Zalando ups FY guidance as Q3 revenues hit £2bn
Zalando said it is now doubling down on its investments in key strategic initiatives, such as driving customer loyalty, making fashion discovery more inspiring and entertaining, and further strengthening its European logistics network
Zalando has revealed it has upped its full-year guidance after a strong third quarter of the year in which revenues jumped 5% to €2.4bn (£2bn).
According to its preliminary figures Zalando said its third quarter gross merchandise value also climbed by 7.8% year-on-year in the quarter to €3.5bn (£2.9bn).
It also confirmed adjusted EBIT increased from €23m (£19.2m) to €93m (££77.7m).
As a result, for the full-year 2024, Zalando now predicts gross merchandise volume (GMV) to grow between 3% and 5%, compared with the previous 0% to 5% growth outlook.
In addition, revenues are expected to grow 2% to 5%, up from the previous guidance range of 0% to 5% and Adjusted EBIT is expected to come in between €440m (£367m) euros and €480m (£401m), up from a previous guidance of between €380m (317m) and €450m (£376m).
Robert Gentz, Zalando Co-CEO, said: “Consumer demand has increased across the industry in the third quarter, with a strong start to the fall/winter season, compared to last year’s slow beginning. Our new ecosystem strategy, empowering us to cover a larger share of the fashion and lifestyle e-commerce market, positions us very well to capture growth opportunities.”
Looking forward, Gentz said the company is now doubling down on its investments in key strategic initiatives, such as driving customer loyalty, making fashion discovery more inspiring and entertaining, and further strengthening its European logistics network, in line with its updated ecosystem strategy.
