Zalando, Europe’s leading online fashion platform, reported its revenues worth Euro 1,086-1,094 million, up by 25-26 per cent in the fourth quarter of fiscal 2016 as against Euro 868.5 million in the corresponding period last year. In the reporting period, it achieved an adjusted EBIT of Euro 81-104 million compared to Euro 71.8 million in the comparable period prior year.
Also, in full FY 2016 Zalando achieved a growth of 22.9-23.1 per cent in group revenues amounting to Euro 3,633-3,642 million compared to last year’s Euro 2,958 million. Profitability improved substantially, with adjusted EBIT approximately doubling to Euro 202-225 million compared to prior year’s Euro 107.5 million.
“We have completed a successful 2016. For the first time, we broke the billion-euro revenue barrier in a single quarter, a clear result of our customer focus. We will continue to emphasize growth and further invest behind an ever-improving customer experience across all our markets,” said Rubin Ritter, Co-CEO, Zalando.
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The etailer intends to open a satellite warehouse in Sweden in current year, similar to its satellite warehouses in France and Italy. The facility aims to further improve Zalando’s customer proposition in its important Nordic markets in Sweden, Norway, Finland and Denmark.
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