Zalando Q3 revenues rise 5% to £2bn
The group’s active customer count increased by about half a million quarter-on-quarter, bringing the total number of active customers in Q3 to 50.3 million
Zalando has reported that revenues rose 5% to €2.4bn (£2bn), with adjusted EBIT climbing from €23m (£19.1m) to €93m (£77.5m) in the third quarter.
It comes as gross merchandise volume (GMV) rose by 7.8% to €3.5bn (£2.9bn) against the same period last year.
The group’s active customer count also increased by about half a million quarter-on-quarter, bringing the total number of active customers to 50.3 million as of the third quarter.
Zalando recorded strong growth in both Business-to-Consumer (B2C) and Business-to-Business (B2B) categories in the third quarter, driven by increasing consumer demand amid an industry-wide strong start to the autumn/winter season.
Sandra Dembeck, CFO of Zalando, said: “Consumers love the quality brands we are adding, spend time with our exciting digital experiences, and embrace our expanding lifestyle offerings in areas such as Sports, Beauty and Kids & Family.
“To capture further growth opportunities, we are investing into initiatives such as evolving our Plus loyalty program, offering more inspiring content, ramping up our tech hub in China and driving localised convenience for customers via our European logistics network.”
Zalando has confirmed its upgraded guidance for FY24, as a result of its strong third quarter trading. The company expects GMV to grow between 3% and 5%; revenues to increase between 2% and 5%; and adjusted EBIT to grow between €440m (£366m) and €480m (£400m).
The retail group expects to report its FY24 results on 6 March 2025.
