Europe’s biggest online retailer Zalando said on Wednesday it expected its profit for 2024 to be above its own forecasts, after marketing-driven customer growth and improved sell-through led to better-than-expected fourth-quarter results.
Zalando now anticipates adjusted earnings before interest and taxes (EBIT) of around €510 million ($525 million), surpassing its guidance range of €440-480 million.
Preliminary figures show gross merchandise volume (GMV) in the year rose by 4.5 percent to €15.3 billion, while revenue grew by 3.9 percent to €10.5 billion, the company added.
This compares to its forecast for GMV and revenues growth of €15.1-15.4 billion and €10.3-10.7 billion respectively.
By Linda Pasquini; Editor: Toby Chopra and Alexander Smith
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