Things are looking up again at Zalando: The online retailer has posted a healthy profit for the past quarter and sales are also increasing. A change in management is imminent.
The online retailer Zalando continues to benefit from its efficiency and cost-cutting measures. Thanks to good inventory management and lower logistics costs, earnings before interest and taxes (EBIT) adjusted for special effects rose by almost a fifth to 171.6 million euros in the second quarter, according to the DAX-listed company in Berlin. The bottom line is that profit jumped by almost 70 percent to 95.7 million euros compared to the same period last year. The company confirmed its annual targets.
According to Zalando, demand increased particularly strongly in the sports, designer and beauty sectors. The gross value of goods in the three months to the end of June rose by 2.8 percent to 3.8 billion euros. Sales increased by 3.4 percent to around 2.6 billion euros.
Meanwhile, CFO Sandra Dembeck announced that she did not intend to extend her contract, which runs until the end of February 2025. The search for a successor is ongoing, it is said.
Source: Stern
