Zalando raises profitability guidance after better-than-expected fourth quarter
The Germany-based online multi-brand retailer has raised its profitability forecast for the fiscal year 2024, following a better-than-expected fourth quarter, driven by strong customer growth
Zalando expects adjusted EBIT to reach around 510 million euros, exceeding the company’s previous guidance of between 440 and 480 million euros. This is mainly due to a better-than-expected fourth quarter, driven by strong customer growth fueled by marketing and improved sell-through.
According to preliminary and unaudited figures, gross merchandise volume (GMV) in fiscal 2024 increased by 4.5% year-on-year to 15.3 billion euros and revenue increased by 3.9% year-on-year to 10.5 billion euros. Capital expenditure (capex) for the year was 210 million euros.
The company will announce its final results for the full year 2024 on the 6th of March.
Image Credits: corporate.zalando.com
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