Zalando: Q3 sales up 21.6%
(CercleFinance.com) - Business volume (GMV) and sales increased by 29.
9% and 21.6% respectively to 2.5 billion euros and 1.8 billion euros in the third quarter of 2020.
This strong growth is particularly due to the acceleration of consumer demand for online offerings in the current health crisis, and the strong performance of the Partner Program and Zalando Lounge, the group says.
Its adjusted EBIT margin was 6.4%, reflecting additional growth and a cyclical effect.
The group announced that it has increased its FY targets, due to exceptionally strong and profitable growth in the third quarter
Zalando is investing to develop its "Connected Retail" offering with the aim of tripling the number of stores on the platform in 2021 and reinforcing its support for partners.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
9% and 21.6% respectively to 2.5 billion euros and 1.8 billion euros in the third quarter of 2020.
This strong growth is particularly due to the acceleration of consumer demand for online offerings in the current health crisis, and the strong performance of the Partner Program and Zalando Lounge, the group says.
Its adjusted EBIT margin was 6.4%, reflecting additional growth and a cyclical effect.
The group announced that it has increased its FY targets, due to exceptionally strong and profitable growth in the third quarter
Zalando is investing to develop its "Connected Retail" offering with the aim of tripling the number of stores on the platform in 2021 and reinforcing its support for partners.
Copyright (c) 2020 CercleFinance.com. All rights reserved.