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Online Fashion Retailer Zalando's First-Quarter Sales Surge

Online Fashion Retailer Zalando's First-Quarter Sales Surge

Wednesday, 21 April, 2021 - 08:45
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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