// Zalando has asked the majority of its workforce to stay at home amid pandemic
// It has put a range of protective and hygienic measures in place
Zalando has released a statement concerning the security measures it will implement to protect both its business and staff throughout the coronavirus crisis.
The majority of the online fashion retailer’s staff have been asked to work from home, and a range of protective and hygienic measures have been provided for those unable to do so.
The business will also be enforcing social distancing rules in addition to asking vulnerable employees to stay at home while they continue to receive their salary.
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Meanwhile, Zalando stated that the lockdown measures that have been implemented by the majority of European governments, as well as the UK, has impacted sales.
Consequently, the company has adjusted its spending, investment and financial strategy for the current year.
Furthermore, Zalando has warned its first-quarter revenue and gross merchandise value growth will drop below analyst’s expectations as consumers’ spending declines.
Analysts had previously forecast a 19 per cent rise in revenue and 22.8 per cent growth in gross merchandise value for Zalando.
“While we expect that the current crisis will have a negative impact in the foreseeable future, we do not expect it to change our longer term trajectory,” Zalando said in a statement.
“We will continue to focus on our strategic priorities: to build even deeper customer relationships and to grow our platform business model.
“Wherever possible, we are prepared to invest through-cycle and drive long-term value creation even in this adverse environment.”
Zalando has 31 million active customers across 17 markets and has developed partnerships with more than 2500 fashion brands.
The company has taken the decision to waive commission fees until May 31 for all new and existing physical stores that sell their goods on its platform.
Last week, Zalando said it will keep warehouses open to maintain “business continuity” despite a decline in consumer demand due to the pandemic.
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