Zalando reports strong revenue and profit growth

Zalando SE has said in a statement that gross merchandise volume (GMV) grew by 25.1 percent to 4.72 billion euros and revenue grew by 19.6 percent to 3.56 billion euros in the first half of 2020. In the same period, Zalando achieved an adjusted EBIT of 113.3 million euros at a margin of 3.2 percent compared to 108.1 million euros; 3.6 percent in the first half of 2019. The company also expanded its customer base by 20.4 percent and now serves over 34 million active customers across Europe. For the full year, Zalando expects GMV growth of 20-25 percent and revenue growth of 15-20 percent, an adjusted EBIT of 250-300 million euros and investments between 230-280 million euros.