Zalando Turns To Profit In Q3 With Growth In Revenues, GMV; Confirms FY24 Outlook

(RTTNews) - Zalando SE (ZLNDY), a German online retailer of fashion and lifestyle products, reported Tuesday that its third-quarter net income was 44.3 million euros, compared to prior year's loss of 8.2 million euros.

Adjusted group EBIT climbed to 92.7 million euros from prior year's 23.2 million euros. Adjusted group EBIT margin improved to 3.9 percent from 1.0 percent a year ago.

Group revenue increased 5 percent to 2.39 billion euros from prior year's 2.27 billion euros.

Zalando's third-quarter gross merchandise volume or GMV rose 7.8 percent to 3.46 billion euros from 3.21 billion euros a year ago,

The number of active customers increased by about half a million quarter on quarter, bringing the total number of active customers to 50.3 million in the third quarter.

Looking ahead, Zalando confirmed its recently upgraded guidance for the financial year 2024. The company continues to expect GMV to grow between 3 percent and 5 percent, revenue to increase between 2 percent and 5 percent and adjusted EBIT to grow to between 440 million euros and 480 million euros.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.