German online fashion retailer Zalando has seen its turnover grow 25 % in the second quarter, while the company also managed to increase margins considerably compared to last year.
“Strong second quarter”
Zalando’s total second quarter turnover reached between 909 and 924 million euro, up 24 to 26 % compared to 2015’s second quarter. Over the first two quarters, the company managed a 24 to 25 % growth, to 1.705 – 1.72 billion euro in turnover. The second quarter’s adjusted EBIT grew from 30 million to somewhere from 68 to 88 million euro, which means its margins grew from 4.1 to 7.5 – 9.5 %.
“Zalando had a very strong Q2. We delivered on our ambitious growth target and saw our profitability increase substantially”, Zalando board member Rubin Ritter said.
Thanks to its excellent performance over the first two quarters of the year, Zalando adjusted its full-year forecast: it anticipates a 20 to 25 % % turnover growth and an EBIT margin between 4 and 5.5 %. The second quarter’s full fiscal numbers will be released on 11 August.
