Zalando upgrades outlook for the year following ‘standout’ first quarter

By Hugh Radojev2021-05-06T06:19:00

German pureplay giant Zalando has upgraded its outlook for the 2021 financial year following what it called a “standout” first quarter.

The Berlin-based retailer said it had delivered its strongest quarter of growth since before it went public, with revenues soaring 46.8% to €2.2bn (£1.9bn), while profits jumped 4.2% to €93.3m (£80.7bn) for the period.

Zalando said active customers on its platform hit 41.8 million at the end of the period, which drove gross merchandise values up 55.6% to €3.2bn (£2.7bn).

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