Zalando sees double digit growth in first half

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Zalando

Online fashion giant Zalando has recorded another double digit rise in revenues in its preliminary half year trading update.

For the first half of 2017, Zalando saw a 21–22 per cent boost in revenues to £1.82-1.84 billion.

Revenue growth dipped marginally in its second quarter after seeing a 23 per cent boost in first three months of 2017.

Adjusted EBIT came in at £88-93.2 million for the period.

READ MORE: Zalando sees 93.8% EU sales rise in first quarter

“We are pleased with the performance in the first half of 2017 and continue to invest in order to meet our ambitious growth targets for the full year and beyond,” co-chief executive Rubin Ritter said.

“In the fast-growing online segment, we continue to outperform the market and deliver on our 20-25 per cent growth corridor.

“Our investments, for example in our fulfillment capabilities and the launch of our membership program Zalando Zet, are the cornerstones for future growth.”

Zalando Zet was announced alongside the online retailer’s results, which will offer a premium services to members including return pickups, stylists and early access to sales.

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