Zalando now anticipates first quarter profit, having previously forecast loss
Online fashion giant Zalando says it now anticipates posting a positive adjusted EBIT in the "single-digit millions" in the first quarter, which would be ahead of analysts' median expectations of a -€10m loss.
The company said it expected GMV and revenue growth approximately in line with market expectations (company-compiled median analyst estimates are 23% and 15.2% respectively).
Chief Financial Officer David Schröder said of the estimate: “We are pleased with our performance in the first quarter, demonstrating that we are focused on strong execution. These results are in line with the company’s full-year outlook.”
All figures reported herein are preliminary and unaudited; Zalando will report its financial figures for the first quarter on 2 May 2019.