Zalando Q1 FY20 sales jump 10.6% to €1,524 million

Fashion

11 May `20

2 min read

Zalando, an online platform for fashion and lifestyle, has reported 10.6 per cent sales growth to €1,524.2 million in first quarter (Q1) FY20 ended on March 31, 2020 compared to sales of €1,378.2 million in same period prior year. Gross profit during the quarter were €538.0 million (Q1 FY19: €549.5 million). Net income reported a loss of €86.4 million.

Zalando, an online platform for fashion and lifestyle, has reported 10.6 per cent sales growth to €1,524.2 million in first quarter (Q1) FY20 ended on March 31, 2020 compared to sales of €1,378.2 million in same period prior year. Gross profit during the quarter were €538.0 million (Q1 FY19: €549.5 million). Net income reported a loss of €86.4 million.#

The company reported that the performance in the first quarter was below its expectations due to effects of the coronavirus crisis. After strong growth in January and February this year, the company saw a significant decrease in consumer demand as a consequence of social distancing measures imposed by governments across Europe.

Zalando, an online platform for fashion and lifestyle, has reported 10.6 per cent sales growth to €1,524.2 million in first quarter (Q1) FY20 ended on March 31, 2020 compared to sales of €1,378.2 million in same period prior year. Gross profit during the quarter were €538.0 million (Q1 FY19: €549.5 million). Net income reported a loss of €86.4 million.#

In Q1 FY20, Zalando increased GMV (Gross Merchandise Value) to €242.3 million (Q1 FY19: €1,99.2 million). While the first two months of FY20 showed strong GMV growth, this metric was severely impacted in March as Covid-19 continued to spread across Europe coupled with mitigation measures imposed by governments and their negative impact on consumer spending, as company reported.

Zalando, an online platform for fashion and lifestyle, has reported 10.6 per cent sales growth to €1,524.2 million in first quarter (Q1) FY20 ended on March 31, 2020 compared to sales of €1,378.2 million in same period prior year. Gross profit during the quarter were €538.0 million (Q1 FY19: €549.5 million). Net income reported a loss of €86.4 million.#

Fashion store segment reported 9.7 per cent increase in sales to €1,391.6 million (Q1 FY19: €1,268.5 million). Offprice segment sales jumped 35.1 per cent to €37.4 million (Q1 FY19: €136.8 million).

Zalando, an online platform for fashion and lifestyle, has reported 10.6 per cent sales growth to €1,524.2 million in first quarter (Q1) FY20 ended on March 31, 2020 compared to sales of €1,378.2 million in same period prior year. Gross profit during the quarter were €538.0 million (Q1 FY19: €549.5 million). Net income reported a loss of €86.4 million.#

The revenue increase in the Fashion Store was reportedly due to solid growth in active customers and average orders per active customer.

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