Zalando, the German online fashion retailer, reported Q1 growth in gross merchandise volume and revenue after focusing on premium brands and B2B service.
Zalando, the German online fashion retailer, returned to growth in Q1 after three consecutive declines in gross merchandise volume, thanks to a focus on premium brands and its B2B service. The company's average order value increased to €60.4, with key revenue metric rising 1.3% to €3.27bn. Zalando's B2B service revenue rose 13% to €215m. The retailer confirmed its outlook for GMV and revenue to grow by up to 5% in 2024, with an adjusted EBIT of €380-€450m.
May 07, 2024
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