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Turnover breaks €1bn at Zalando

German etailer Zalando has reported revenue of €1.02bn - €1.06bn (£806m- £808m) for the first half of 2014, as EBIT at the company broke even for the first time.

According to preliminary figures for the first half of 2014, released by Zalando today (July 18), sales were up at least €211m (£166m) compared to the first half of 2013 when revenue was €809m, (£639m).

The company said the second quarter was profitable, while EBIT for the half broke even, compared to a 9% loss in the first half of 2013. The etailer did not release a further breakdown of EBIT figures.

Rubin Ritter, chief financial officer at Zalando, said the development in the second quarter was “very positive”. He added: “It combines continued strong growth with a very significant improvement in margin. Based on this development we reiterate our plan to take a significant step towards, but not quite reaching, EBIT break-even at group level for the full year 2014.”

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