Zalando Q3 Loss Widens, GMV Up; Now Sees FY22 Results To Reach Lower End Of Outlook Ranges

(RTTNews) - Zalando SE (ZLNDY), a German online platform for fashion and lifestyle, reported Thursday that its third-quarter net loss widened to 35.4 million euros from last year's loss of 8.4 million euros.

Adjusted earnings before interest and taxes or adjusted EBIT increased to 13.5 million euros from 9.8 million euros in the same quarter a year ago.

Group revenue was 2.35 billion euros, up 2.9 percent from 2.28 billion euros last year.

Gross Merchandise Volume or GMV gained 7.1 percent to 3.28 billion euros in the third quarter.

The number of active customers increased 8 percent compared with a year ago, exceeding 50 million for the first time.

Looking ahead, Zalando confirmed fiscal 2022 forecast and expects that results will come in at lower end of the range.

The company earlier expected gross merchandise volume to grow 3 percent - 7 percent to 14.8 billion to 15.3 billion euros, revenue to grow 0 percent - 3 percent to 10.4 billion to 10.7 billion euros, and adjusted EBIT of 180 million to 260 million euros.

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