Zalando: confirms guidance for 2024

(CercleFinance.com) - Gross merchandise volume (GMV) rose by 2.
8% to 3.8 billion euros in the second quarter compared with a year ago. Sales were up 3.4% to 2.6 billion euros year-on-year.

Adjusted earnings before interest and taxes (adjusted EBIT) reached 171.6 million euros in the second quarter, in line with market expectations, compared with 144.8 million euros a year earlier.

"The improvement in profitability was driven by good inventory management and lower fulfillment costs, with the EBIT margin increasing by 0.8 percentage points to 6.5% of sales" says the group.

Zalando confirms its full-year guidance for 2024 and expects GMV and sales to increase by 0% to 5% this year compared with 2023.

The company will continue to focus on profitable growth, with margins rising steadily. Adjusted EBIT is expected to be between E380 million and E450 million', says management.

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