Zalando beats first-quarter revenue forecast, confirms 2025 goal
LONDON (Reuters) -European online fashion retailer Zalando reported first-quarter revenue that was stronger than expected thanks to additional customers and a good start to spring and summer sales, and confirmed its 2025 guidance. The multi-brand platform that sells clothes, shoes and accessories said group revenue grew 7.9% to 2.42 billion euros ($2.74 billion) in the three months ended March 31, beating analysts' average forecast of 2.367 billion. Zalando has been moving upmarket and adding more designer brands to its offering as cut-price fast-fashion platforms like Shein intensify competition at the lower end, and said it added LVMH-owned brand Marc Jacobs in the first quarter.
Reuters
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2 hours ago