Zalando: raises outlook as revenues surge
(CercleFinance.com) - Germany's Zalando reported a surge in second-quarter revenues, and raised its outlook for 2020.
According to preliminary figures, Europe's biggest online fashion retailer saw its revenues rise by 26%-28% to 2.01 billion-2.05 billion euros over the past quarter.
The Berlin-based company said it now expects to grow its revenue by 15%-20% this year, and expects adjusted EBIT of 250-300 million euros.
The new guidance is significantly above what the online retailer published in May.
Back then, the company said it expected revenue growth of 10%-20% for 2020, with adjusted EBIT of 100 million to 200 million euros.
"Following a tough first quarter, its business model has stood out during the pandemic, with a strong rise in active users and in partner brands joining the platform", one analyst pointed out.
The stock jumped over 5% on the Frankfurt Stock Exchange after this trading update.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
According to preliminary figures, Europe's biggest online fashion retailer saw its revenues rise by 26%-28% to 2.01 billion-2.05 billion euros over the past quarter.
The Berlin-based company said it now expects to grow its revenue by 15%-20% this year, and expects adjusted EBIT of 250-300 million euros.
The new guidance is significantly above what the online retailer published in May.
Back then, the company said it expected revenue growth of 10%-20% for 2020, with adjusted EBIT of 100 million to 200 million euros.
"Following a tough first quarter, its business model has stood out during the pandemic, with a strong rise in active users and in partner brands joining the platform", one analyst pointed out.
The stock jumped over 5% on the Frankfurt Stock Exchange after this trading update.
Copyright (c) 2020 CercleFinance.com. All rights reserved.