Ecommerce giant Zalando posts Q1 sales up 22-24%

Zalando has posted Q1 2017 sales up 22%-24% reaching €971m-€987m, according to preliminary results released today, and is on course to achieve its bullish growth goals for the year.

The German-based ecommerce giant also expects to achieve an adjusted EBIT of €10m-€30m corresponding to an adjusted EBIT margin of 1%-3% for the same period. It has underscored its aim achieve revenue growth of between 20%-25% and an EBIT margin of 5%-6% for the full year.

Co-CEO Rubin Ritter said the business continued to "successfully execute" towards its goals for the year. "We are fully on track with our long-term aspirations and keep expanding our business at high speed, while investing into our consumer experience and brand partner proposition," he said.

Zalando offers 1,500 international brands for men, women and children across 15 European markets and racked up 19.9m active users by the end of the quarter. Around 68% of its traffic of 160m visits a month comes from mobile devices.