BERLIN (dpa-AFX) - Zalando SE (ZLNDY), an online retailer of fashion and lifestyle products, has upgraded its full-year financial outlook, attributing the improvement to its ecosystem strategy focused on quality, lifestyle expansion, and enhanced B2B capabilities. This approach has allowed the company to capitalize on rising consumer demand in the third quarter, coinciding with a strong start to the fall/winter season across the industry.
For the financial year 2024, the company now expects gross merchandise volume (GMV) to grow between 3% and 5% to 15.1 billion euros - 15.4 billion euros. It also expects revenues to grow between 2% and 5% to 10.3 billion euros - 10.7 billion euros.
The company projects annual adjusted EBIT to be between 440 million euros and 480 million euros. The company plans capital expenditure (capex) of around 200 million euros.
The company had previously confirmed its outlook for the 2024 financial year on 6 August 2024. Previously, the company expected growth in gross merchandise volume (GMV) and revenue of between 0% and 5% compared to the previous year, adjusted EBIT of between 380 million euros and 450 million euros and capital expenditure (capex) of 250 million euros to 350 million euros.
Zalando reported Thursday that its preliminary third quarter gross merchandise volume (GMV) rose by 7.8% from a year earlier to 3.5 billion euros, revenue grew by 5.0% from a year earlier to 2.4 billion euros while adjusted EBIT rose from 23 million in the year-ago period to 93 million euros.
Zalando SE will publish its results for the third quarter of 2024 on 5 November 2024.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.
Copyright(c) 2024 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2024 AFX News
