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Zalando ‘reaccelerates growth’ with 35% sales increase

German etailer Zalando increased sales by 35% to €738m (£513m) for the three months ended June 30, while it expects adjusted EBIT between €22m (£15m) and €37m (£25m).

EBIT margin was between 3 and 5% for the quarter, according to preliminary figures.

The business said revenue growth was significantly above expectations, although EBIT margin was impacted by a temporary increase in payment cost.

“With these figures, Zalando continues to deliver a unique combination of growth at scale and profitability” said general manager Rubin Ritter.

“Re-accelerating our growth close to 35% is an extraordinary achievement of our team.”

Zalando, which was founded in 2008, had a turnover of €2.2bn (£1.6bn) last year and agreed to acquire German trade show Bread & Butter Berlin out of insolvency in June.

@Tara_Hounslea

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