Despite high inflation and a difficult economic environment, fashion retailer Zalando significantly reduced its losses in the first quarter. Customer demand was robust, and the costs per order fell thanks to larger shopping baskets, as the group announced on Thursday in Berlin. Also, business is growing with partners who have sold more products on the platform.
The adjusted loss before interest and taxes (EBIT) fell within one year from 51.8 million euros to 0.7 million euros. The bottom line was a loss of 38.5 million euros after 61.3 million euros in the same period last year. Gross merchandise volume (GMV) rose by 2.8 percent to a good 3.2 billion euros in the first quarter. Sales increased by 2.3 percent to almost 2.3 billion euros.
The group confirmed its forecast. Adjusted operating earnings (EBIT) are expected to rise to between EUR 280 million and EUR 350 million. In terms of sales, management is forecasting a development of between minus one and plus four percent. The gross goods volume is expected to increase by between one and seven percent. (dpa)
