Nov 13, 2019 | By Alice Gividen
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Germany’s Zalando raised its full year outlook for a second time on Thursday, following a surge in Q2 revenue.
That came despite the online fashion retailer reporting net profit dipped 20% year-on-year to €23m ($25.6m) in the quarter.
But it was all about the sales as revenue in the period ended June 30 leapt 34% on-year to €733m, thanks to an increasingly active customer base, it said.
That pushed H1 revenues up 31.5% to €1.38bn while claiming 16.4m active customers.
“Thanks to our clear focus on customer satisfaction, we have delivered exceptional revenue growth at scale and improving profitability in the first half of 2015,” glowed management board member Rubin Ritter.
The company reported strong growth in all its regions, with revenue in the DACH (German-speaking territories) growing 28% with the Rest of Europe up 38%.
Now Zalando expects revenue for the year to rise from it previously expected 20-25% to 28-31%. It reconfirmed its adjusted ebit margin guidance at 4.5%.
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