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Zalando: reduced losses in Q1

( - Zalando reports that its GMV sales volume (i.
e. all merchandise sales, other revenues and marketplace business volume) reached E3,269m in Q1, up 1.3% y-o-y.

Sales fell by just 0.6% to E2,241m, with adjusted EBIT of E28.3m (vs. -E0.7m a year earlier), with growth in both B2C (from -E4.8m to +E22.9m) and B2B (from +E4.1m to +E5.4m).

Zalando finally reported a net loss of E8.9m, significantly lower than the E38.5m loss of Q1 2023. However, the consensus was looking for a slight net profit.

Against this backdrop, Zalando confirms its guidance for FY 2024 and expects GMV and sales to increase - flat to +5% this year compared with 2023. Adjusted EBIT is expected between E380m and E450m.

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