Zalando, Europe’s biggest online fashion retailer, said on Thursday that it had nearly doubled its operating profit level in the second quarter on better order economics and more focused marketing.
Its second-quarter adjusted earnings before interest and tax (EBIT) grew 87 percent, to €144.8 million ($158.24 million), compared with the same quarter last year, said the company.
The company also narrowed its full-year outlook for 2023, with operating profit now expected between €300-350 million, instead of €280-350 million previously, and said gross merchandise value (GMV) and revenue would be in the lower half of the initial guidance ranges.
By Miranda Murray; Editor: Friederike Heine
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Under the Digital Services Act (DSA), which came into force last year, Zalando was labelled a very large online platform (VLOP) because it has more than 45 million users.
