European firm Zalando's GMV grows 2.8% in Q2 FY24

Adjusted earnings before interest and taxes (adjusted EBIT) increased to €171.6 million in the second quarter, aligning with market expectations and surpassing the previous year's figure of €144.8 million. This improvement led to an EBIT margin rise of 0.8 percentage points, bringing it to 6.5 per cent of revenue, the company said in a press release.

The B2C growth vector showed solid performance, with revenue rising by 2.8 per cent to €2.4 billion in the second quarter. Adjusted EBIT for this segment increased to €165.2 million, resulting in an adjusted EBIT margin of 6.8 per cent for the quarter.

In the B2B growth vector, revenue saw a significant increase of 10.3 per cent, reaching €233.8 million compared to the same period last year. However, adjusted EBIT for this segment fell to €7.1 million from €15.5 million in the year-ago quarter, representing an adjusted EBIT margin of 3.1 per cent.

“Our ecosystem strategy empowers us to cover a larger share of the fashion and lifestyle e-commerce market, and the positive response from customers and partners in the second quarter validates our vision,” said Robert Gentz, Zalando Co-CEO. “Our B2C customers are excited by the quality brands we are adding, spending time with our new digital tools and content, and embracing our expanding lifestyle offerings.”

ALCHEMPro News Desk (DP)