Due to the persistently weak demand, the online retailer Zalando is once again working on its annual targets. In the best case scenario, sales are likely to stagnate at around 10.3 billion euros, the DAX group announced in Berlin on Wednesday evening. In the worst case, a decline to 10.0 billion euros can be expected. So far, the board had forecast a development of minus 1 to plus 4 percent compared to the previous year. Management maintained its forecast for adjusted operating earnings (EBIT) of 300 to 380 million euros.
Based on preliminary figures, the gross merchandise volume in the third quarter fell by 2.4 percent to 3.2 billion euros. Group revenue fell by 3.2 percent to 2.3 billion euros compared to the previous year. Due to strict cost controls, adjusted earnings before interest and taxes (EBIT) rose to 23.2 million euros after 13.5 in the previous year. The bottom line is that Zalando significantly reduced its loss from 35.4 million euros to 8.2 million euros.
