German online retailer Zalando has reached another huge turnover increase as its third quarter revenue grew 16 to 18 % again compared to the year before. For its full fiscal year, the company expects a 20 to 25 % turnover increase compared to last year.
Over the course of the third quarter, Zalando's turnover was 827 to 841 million euro, according to the company's preliminary results. The full results will be published on 10 November, but Zalando expects a 8 to 25 million euro EBIT, which is a 1 to 3 % margin. Only a year ago, the company had to deal with a 25 million euro loss.
“In the third quarter we outperformed a sluggish fashion market and improved our profitability significantly, allowing us to increase our guidance for the full-year EBIT margin. We remain on track to reach our targeted revenue growth for the full year", CEO Rubin Ritter said.
Zalando forecasts a 20 to 25 % turnover increase for its full fiscal year.