Online retailer Zalando had a pleasing first quarter: turnover grew nearly 25 %, which perfectly fits the company's full-year forecast.
Zalando's preliminary numbers show that first quarter turnover grew 22.5 to 24.5 %, to between 788 and 801 million euro. Zalando managed a 644 million euro turnover in last year's first quarter and the company expects an adjusted EBIT between 12 and 28 million euro. That would be a 1.5 to 3.5 % margin, a drop compared to last year when it had a 29 million euro adjusted EBIT and a 4.5 % margin.
Zalando expects a 20 - 25 % turnover growth and 3 - 4.5 % margin for its full fiscal year. “Zalando has started 2016 well. We picked up the pace since the Easter holiday at the end of the first quarter. We are well on our way to meet our forecast of rapid growth and a decent profit for our full fiscal year", board member Rubin Ritter said.