BERLIN — Zalando, which racked up double-digit sales gains in the first quarter of 2017, has confirmed its full-year guidance of 20 to 25 percent sales growth, and an adjusted earnings before interest and taxes margin between 5 and 6 percent.
In preliminary figures released Wednesday, Europe’s largest online fashion platform said sales in the quarter grew 22 to 24 percent to 971 million to 987 million euros, or $1.03 billion to $1.05 billion. In the first 15 minutes of trading on Xetra, the Frankfurt electronic exchange, shares were down 5.34 percent to 38.19 euros.
All dollar figures are converted at average exchange for the period to which they refer.
Related Articles
The first-quarter profit picture for the Berlin-based e-tail giant isn’t as bright: Zalando said it expects adjusted earnings before interest and taxes to reach 10 million to 30 million euros, or $10.6 million to $31.9 million, compared to 20.2 million euros, or $22.2 million a year ago.
You May Also Like
That would correspond to an adjusted EBIT margin of 1 to 3 percent compared to last year’s 2.5 percent in the first quarter.
Co-chief executive officer Rubin Ritter said Zalando started 2017 “with strong growth momentum. We are fully on track with our long-term aspirations and keep expanding our business at high speed while investing into our consumer experience and brand partner proposition.”
Zalando will publish final first-quarter figures on May 9.
Today’s brief trading statement also noted the proposed nomination of Shanna Prevé and Dominik Asam for election to the supervisory board at the AGM on May 31. Prevé is managing director business development for Google Consumer Hardware Group in San Francisco, and Asam is chief financial officer of Infineon Technologies AG.
They would replace Lorenzo Grabau and Kai-Uwe Ricke, who are not seeking reelection to the board.