Zalando delivered gross merchandise volume (GMV) growth of 2.8 percent to 3.2 billion euros and revenue increase of 2.3 percent to 2.3 billion euros in the first quarter compared with a year ago.
The company broke even at an adjusted earnings before interest and tax (adjusted EBIT) level compared with negative 52 million euros in the first quarter a year ago.
The company’s number of active customers grew 4.8 percent versus last year to 51.2 million.
“The first quarter demonstrated how flexible our business model is, enabling us to perform in a challenging market environment as we saw strong customer demand at our Offprice segment and a strong performance of the partner business,” said Robert Gentz, Co-CEO of Zalando.
He continued: “Curated product drops with brands such as Adidas and Salomon or teaming up with designer brands to create capsule collections led to increased engagement with our customers.”
In April, Zalando and Paco Rabanne launched a spring/summer 23 40 piece capsule collection, exclusively available on Zalando.
The company said that Lounge by Zalando, an online shopping club that offers customers limited-time offers and discounts on premium brands and which makes up a major component of the offprice segment, contributed to a 33 percent increase in revenues at off price.
Zalando has confirmed its full year guidance for 2023. GMV is expected to grow between 1 percent and 7 percent, revenue is expected to develop in the range of negative 1 percent to 4 percent compared with last year.
The company expects adjusted EBIT to be between 280 million euros and 350 million euros this year.