The German online fashion platform Zalando is one of those few that seemed to have enjoyed every bit of the extended lockdown period.
And it has all reasons to! With people staying at home and physical stores closed, shoppers’ online purchase has seen a massive surge.
Back in March, when the pandemic was spreading fast across Europe and there were restrictions on non-essential purchase, Zalando was forced to abandon its initial full year earning prediction of €275 million. Everyone was suffering and Zalando was no exception.
However, with an impressive surge during the lockdown period, which saw Zalando’s shares increase by 5 per cent and market value touch €17 billion, the e-commerce firm understood the scenario was changing fast in its favour.
On Wednesday (15 July), Zalando predicted its full year earnings could now post a record-breaking €300 million.
That’s some prediction for a company which had to forgo its previous forecast just few months back.
Based on the initial figures for Q2, the German digital platform expects its Q2 adjusted earnings before interest and tax (EBIT) to be somewhere between €200-220 million.
Meanwhile, Zalando has said that it will come out with its Q2 report on 11 August 2020.
Zalando, which is arguably Europe’s biggest online-only fashion retailer, generates revenue of €6.482 billion, and has customers in as many as 17 European markets.