- Growth outlook significantly above overall fashion market
- Q1 GMV grows by 13.9%, revenue by 10.6%
- Q1 Adjusted EBIT at minus 98.6 million euros
- Internationalization of Connected Retail program: Adding brick-and-mortar retailers in Spain, Sweden and Poland
- Full-year 2020 guidance: GMV and revenue growth of 10-20%, adjusted EBIT of 100-200 million euros, Capex 230-280 million euros
Zalando SE expects to grow its business at double-digit rates in a fashion market that is expected to show significant negative growth in 2020. Despite the challenging trading environment due to the coronavirus, Europe’s leading online platform for fashion and lifestyle aims to grow its Gross Merchandise Volume (GMV) by 10-20%, and its revenue in the same range but below GMV due to the fast growth of the platform business. The company expects to be clearly profitable with an adjusted EBIT between 100 million and 200 million euros and plans investments between 230 and 280 million euros.
“We are confident that we will grow double-digit and at a clear profit in 2020. This will allow our partners to grow and gain market share in a challenging economic environment by building their business on Zalando. Many of them have significantly increased their activities on our platform in the past weeks, and we will continue to make it easier for them to reach customers across Europe,” says Rubin Ritter, co-CEO.
Zalando has also published an ad hoc notification, which you can read here.