- Prachi Singh |
Zalando, marketplace selling fashion, footwear and accessories, said on Tuesday its Q2 net income for 2018 increased to 51.8 million euros. Revenues increased by 20.9 percent from the same period last year. The company said, it achieved an adjusted EBIT of 94 million euros or a margin of 7.1 percent in the same period. For the financial year 2018, Zalando forecasts profitable revenue growth in the lower half of its target corridor of 20-25 percent, expecting adjusted EBIT at the low end of the 220-270 million euros target range.
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The company’s net income for Q2 2018 was 51.8 million euros, up from 47.4 million euros a year earlier. Revenues rose to 1.330 million euros. The profit margin of the company dropped to 3.9 percent compared to 4.3 percent a year ago.
In the first half of 2018, Zalando grew revenues by 21.4 percent to 2,526 million euros and achieved an adjusted EBIT of 94.4 million euros or a 3.7 percent margin.
Zalando SE was founded in 2008 by Robert Gentz, David Schneider and is based in Berlin, Germany. Zalando is a leading European cross-platform online store that sells shoes, clothing and other fashion products. The company delivers on trend fashion across 2,000 brands to customers in 17 countries. The Frankfurt-listed company has over 15,000 employees worldwide.
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