Zalando SE forecast first quarter results above market expectations as a result of a stronger-than-expected start to the spring-summer season as well as a lower-than-expected return rate.
According to preliminary figures for the first quarter of 2021, Zalando increased gross merchandise volume (GMV) by 54.5-56.5 percent to 3.13-3.17 billion euros and revenues by 46-48 percent to 2.22-2.26 billion euros.
Zalando expects an adjusted EBIT in the same period between 80-100 million euros compared to negative 98.6 million euros in the first quarter of 2020.
“The successful execution of our platform strategy allowed us to serve even more customers and to create opportunities for even more partners amidst a challenging overall European fashion market environment,” said Zalando’s Chief Financial Officer David Schröder.
The median of the analysts’ consensus surveyed by the company as of March 29, 2021, was 50 percent for GMV growth, 45.5 percent for revenue growth and 41 million euros for adjusted EBIT.