📈 Zalando's Impressive Growth
German online fashion retailer Zalando reported a significant increase in revenue for the first quarter of 2021. Sales soared by 46-48%, reaching a total of $2.7B. This surge was largely driven by the ongoing COVID-19 lockdowns, which boosted online shopping.
💸 Gross Merchandise Volume
Zalando's gross merchandise volume (GMV) also saw remarkable growth. GMV, which includes sales made by both the company and its partners, rose by more than 50% to $3.2B. This highlights Zalando's strong performance and the increasing demand for online fashion retail during the pandemic.
🧮 Earnings and Projections
For Q1 2021, Zalando expects adjusted earnings before interest and tax (EBIT) to be between $87M and $109M. This is a stark contrast to the $99M loss recorded in the same period last year. The company had previously forecasted a GMV increase of 27-32% for the entire year, aiming for $16B.
🗓️ Upcoming Results
Zalando plans to release its full first-quarter results on May 6. These preliminary figures indicate a strong start to the year, showcasing the company’s resilience and adaptability in the face of the pandemic. Investors and market analysts are eagerly awaiting the detailed report.
How will Zalando's growth impact the fashion industry?
