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Zalando revenues soar

German etailer Zalando has increased sales by 23.1% to €980m (£826m) in the first quarter of the year.

In the first three months of 2017, adjusted EBITDA remained level with the same period last year at €20m (£16.8m), with a margin of 2.1%, down from 2.5% in 2016.

The business reconfirmed its full-year guidance of sales growth between 20% and 25%, and EBIT margin in the range of 5-6%.

“Our key priority is profitable growth, and that is what we delivered on in the first quarter,” said co-CEO Rubin Ritter. “We are determined to win further market share and reach more customers across Europe. That is why we will continue investing in the consumer experience, our technology and logistics infrastructure, as well as our brand partner proposition.”

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