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Rocket's Zalando Quarterly Earnings Increase

Rocket's Zalando Quarterly Earnings IncreaseRocket's Zalando Quarterly Earnings Increase

Europe's biggest dedicated online fashion retailer Zalando saw sales growth slow in the first quarter after a blistering 2015, but said it accelerated again since the Easter holidays in late March, helping it reiterate its annual targets.

Quarterly revenue rose between 22.5% and 24.5% to €788-801 million, missing average analyst forecasts for €822 million ($930.92 million), Zalando said on Tuesday.

Adjusted earnings before interest and tax come to between €12-28 million, compared with consensus for €21.6 million, according to Reuters.

Ruben Ritter, management board member, said Zalando had picked up speed again since "the typically slower Easter holidays" and reiterated full-year guidance for revenue growth at the upper end of a 20-25% corridor and an adjusted EBIT margin of 3-4.5%.

Rocket Internet, which owns Zalando, has also invested in developing a similar site inside Iran. The site called Bamilo is a combination of online retailer and merchant website.

 

Financialtribune.com