Zalando had its strongest ever first quarter
Zalando reported it just had its strongest first quarter ever and it expects to beat expectations for the second quarter in a row. Zalando’s revenue came in between 635 and 648 million euros in the three months prior to the end of March. That’s 27 to 29% higher than the 501 million euros it achieved in the same period last year.
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And things keep looking well for Europe’s largest online fashion retailer, as that range is well ahead of its forecast that it would grow at an overall rate of between 20 and 25% this year, as The Financial Time writes. On May 12, the company will release its earnings, so then more detailed figures will be released.
‘Zalando would continue to focus on growth above profitability’
According to Rubin Ritter, member of Zalando’s management board, the German ecommerce company has never had such a strong first quarter. “The development in March in particular shows that we have strong growth momentum.” Although he said last month Zalando would continue to focus on growth above profitability this year, it had experienced a strong start to the spring/summer fashion season. An adjusted operating profit of between 25 and 39 million euros was achieved during these months, up from a loss of 23 million euros in the same period last year.
Last month, the online fashion retailer said it would embark on a massive hiring spree, especially by employing tech and logistics experts. Its total staff should grow from 7,500 to about 10,000 by the end of this year.