Zalando Q2 Profit Down; Expects Improved Profitability In H2

Zalando SE (ZALNDY), online platform for fashion and lifestyle in Europe, posted a net income of 14.0 million euros in the second quarter, down from 120.4 million euros in the prior year.

The company expects improved profitability and a return to growth in the second half of the year, confirming its outlook for the full year.

The company's gross merchandise volume in the second quarter of 2022 came in at 3.8 billion euros, showing a flat development, compared to an extraordinarily strong second quarter 2021.

Revenue fell by 4% to 2.6 billion euros mainly due to the transition of the business to a platform model.

Zalando confirmed its guidance provided on 23 June 2022 for the financial year 2022 with Gross Merchandise Volume (GMV) expected to grow 3-7% to 14.8 billion euros -15.3 billion euros.

Annual revenue is expected to grow 0-3% to 10.4 billion euros - 10.7 billion euros with an adjusted EBIT of 180 million euros - 260 million euros in the same period.

In the second quarter the number of active customers grew steadily to over 49 million, an increase of 11% from the previous year. The company's loyalty program, Zalando Plus, grew 164% year-over-year, with now over 1.5 million members.

Zalando reduced its marketing spend and drove efficiency improvements across its European logistics network.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Seffner, Florida -based Canyon Furniture Co. is recalling ladders sold with bunk bed and hutch sets citing entrapment and strangulation risks, the U.S. Consumer Product Safety Commission said. The about 2,100 units of Canyon Lake and Cottage Colors Bunk Bed and Hutch Sets were sold exclusively at Rooms To Go. Lyft announced the expansion to its partnership with Indeed in Jobs Access program. The ride-hailing company will be providing transportation access for Indeed's Ready to Work program. Indeed's Ready to Work program is a series of free virtual and in-person events for job seekers in several cities across the U.S. from September 15 to October 8, 2022. Pool and Spa drain covers imported to the United States by various companies have been recalled due to violation of the Virginia Graeme Baker Pool and Spa Safety Act, the U.S. Consumer Product Safety Commission announced. The various recalls include pool and spa drain covers manufactured in China and sold exclusively at Amazon.com for different prices ranging from $10 to $12.
Follow RTT