Zalando: further rebound after revised forecasts

(CercleFinance.com) - Zalando's share price continues to climb, gaining almost 2% following the group announcing a new outlook.


Zalando has raised its outlook for FY 2024, as strong consumer demand in Q3 pushed the number of active customers above 50 million.

Q3 gross merchandise volume (GMV) increased by 7.8% to E3.5bn, sales by 5.0% to E2.4bn, with adjusted EBIT rising from E23m to E93m.

FY 2024 GMV is now expected to grow by 3% to 5%, up from a previous target range of 0 to 5%.

Revenues are now expected to grow between 2% and 5%, up from the previous range of 0 to 5%.

FY 2024 adjusted EBIT is expected between E440m and E480m, vs. a previous forecast of E380m to E450m.

Zalando is targeting FY investments of around E200m, compared with a previous forecast of E250m to E350m.

Management said that its new ecosystem strategy, which enables it to cover a larger share of the fashion and lifestyle e-commerce market, positions it very well to seize growth opportunities.


Copyright (c) 2024 CercleFinance.com. All rights reserved.