Zalando has broken the €1 billion barrier for the first time in its latest trading update, with online retailer raking in €1.086-€1.094 billion in revenues during its fourth quarter.
These preliminary figures equate to about 25-26 per cent growth, and the German-based etailer is expected to post full-year revenues of around €3.633 billion to €3.642 billion.
Zalando also expects to achieve an adjusted earnings before tax of €81-104 million during the last quarter, and €202-225 million in adjusted full-year profits.
“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,” Zalando chief executive Rubin Ritter said.
READ MORE: Zalando revenues increase despite growth slowdown
“We will continue to emphasize growth and further invest behind an ever-improving customer experience across all our markets.”
Zalando intends to open a satellite warehouse in Sweden sometime this year, similar to its satellite warehouses in France and Italy.
The facility will be run by a service provider and aims to further improve Zalando’s customer proposition in its important Nordic markets in Sweden, Norway, Finland and Denmark.
Zalando‘s full financial disclosure for the fourth quarter and financial year 2016, together with the management guidance for the financial year 2017, will be published on March 1.
Keep up to date with Retail Gazette by liking us on Facebook
