Zalando SE expects its first-quarter results above market expectations as a result of a stronger-than-expected start to the spring/summer season and a lower-than-expected return rate.
The Berlin-based online fashion marketplace said that according to its preliminary figures for the first quarter of 2021, Zalando increased Gross Merchandise Volume (GMV) by 54.5 percent to 56.5 percent to €3.13 billion to €3.17 billion (Q1 2020: €2.0 billion ) and revenues by 46 percent to 48 percent to €2.22 to €2.26 billion (Q1 2020: €1.5 billion). Zalando expects an adjusted EBIT in the same period between €80 million to €100 million (Q1 2020: negative €98.6 million).
The median of the analysts’ consensus surveyed by the company as of March 29, 2021, was 50.0 percent for GMV growth, 45.5 percent for revenue growth, and €41 million for adjusted EBIT.
Chief Financial Officer David Schröder said: “The successful execution of our platform strategy allowed us to serve even more customers and to create opportunities for even more partners amidst a challenging overall European fashion market environment.”
Zalando will publish its financial figures for the first quarter on May 6.
Photo courtesy Zalando UK
