Zalando: UBS still Neutral

(CercleFinance.com) - The group reported a 5% increase in sales to E2.
4bn, with adjusted EBIT jumping from E23m to E93m.

The analyst considers development in its gross margin and B2C encouraging.

UBS confirms its Neutral rating on the stock, leaving its target price unchanged at E27.5 (cp: E26.2, -5.8%).

Positive gross margin and order fulfillment as well as an improving B2C trend remain the key takeaways today after the pre-release in October, UBS says.

Zalando has confirmed its FY 2024 guidance, which it raised on 10 October 2024. The company expects gross merchandise volume (GMV) to rise by between 3% and 5%, with sales up by 2% to 5% and an adjusted EBIT of E440m and E480m.


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