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Online Fashion Retailer Zalando's First-Quarter Sales Surge

German online fashion retailer Zalando’s on Tuesday said revenue soared by 46-48% in the first quarter, boosted by coronavirus lockdowns. (Reuters)
German online fashion retailer Zalando’s on Tuesday said revenue soared by 46-48% in the first quarter, boosted by coronavirus lockdowns. (Reuters)
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Online Fashion Retailer Zalando's First-Quarter Sales Surge

German online fashion retailer Zalando’s on Tuesday said revenue soared by 46-48% in the first quarter, boosted by coronavirus lockdowns. (Reuters)
German online fashion retailer Zalando’s on Tuesday said revenue soared by 46-48% in the first quarter, boosted by coronavirus lockdowns. (Reuters)

German online fashion retailer Zalando’s on Tuesday said revenue soared by 46-48% in the first quarter, boosted by coronavirus lockdowns.

Europe’s biggest online-only fashion retailer’s preliminary first-quarter figures said sales totaled 2.22-2.26 billion euros ($2.67 billion-$2.72 billion), while gross merchandise volume (GMV) - sales on its site made by the company or its partners - rose by more than half to 3.13-3.17 billion euros, Reuters reported.

Last month, Zalando said it expected GMV to increase by 27%-32% to between 13.6-14.1 billion euros in 2021.

For the first quarter of 2021, Zalando said it expected adjusted earnings before interest and tax of 80-100 million euros, versus a loss of 98.6 million euros in the year-earlier period.

Zalando plans to publish full first-quarter results on May 6.

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Fashion

Ralph Lauren Hikes Annual Sales Forecast on Strong Demand for High-end Apparel

A man walks past Ralph Lauren Corp.'s flagship Polo store on Fifth Avenue in New York City, US, April 4, 2017. REUTERS/Brendan McDermid
A man walks past Ralph Lauren Corp.'s flagship Polo store on Fifth Avenue in New York City, US, April 4, 2017. REUTERS/Brendan McDermid
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Ralph Lauren Hikes Annual Sales Forecast on Strong Demand for High-end Apparel

A man walks past Ralph Lauren Corp.'s flagship Polo store on Fifth Avenue in New York City, US, April 4, 2017. REUTERS/Brendan McDermid
A man walks past Ralph Lauren Corp.'s flagship Polo store on Fifth Avenue in New York City, US, April 4, 2017. REUTERS/Brendan McDermid

Ralph Lauren raised its annual sales forecast after topping quarterly revenue estimates on Thursday, on steady demand for its cable-knit sweaters and Oxford shirts in North America, Europe and China, sending shares of the company 6% up in premarket trading.
Wealthy customers continue to splurge on high-end leather handbags and Polo sweat-shirts, boosting demand across Ralph's direct-to-customer channels and helping it counter a muted wholesale business and soft e-commerce sales in North America.
The results are in contrast to a pullback in the broader luxury sector, primarily in the key China market, which has hurt larger European fashion houses such as Hugo Boss, Kering and luxury bellwether LVMH.
The Club Monaco owner now expects fiscal year 2025 revenue to increase about 3% to 4% compared with a prior forecast of a 2% to 3% rise.
The luxury retailer's net revenue rose 6% to $1.73 billion in the second quarter ended Sept. 28 from a year earlier. Analysts on average had expected revenue of $1.68 billion, according to data compiled by LSEG.