Zalando, Europe’s leading online fashion platform for women, men and children, has announced financial results for the third quarter of the current fiscal.
During the reporting period, the e-commerce retailer noted a 28.7 per cent increase in its revenue to Euro 1,074.7 million.
The company’s adjusted EBIT (Earnings Before Interest & Taxes) stood at Euro 0.4 million which corresponds to a margin of 0.0 per cent. In the third quarter of 2016, EBIT was Euro 19.5 million.
The DACH region reported a 22.3 per cent surge in revenue to Euros 497.7 million. The Rest of Europe noted a 30.9 per cent jump to Euros 489.7 million.
Additionally, the active-customers count too soared by 1 million to 22.2 million in the third quarter of the year
In the first nine months of 2017, Zalando’s revenue increased by 23.9 per cent to Euro 3,155.3 million. It noted an adjusted EBIT of Euro 102.5 million during the period.
The company is hopeful of having a strong growth in both fourth quarter and full year 2017 in view of the robust third quarter.
The online retailer is more focused on growth and wants to double its business by the year 2020.
Zalando now expects a 20-25 per cent growth in its revenue during the upper half.
