Zalando reports Q2 sales up by 27%

Online fashion giant Zalando has reported sales on its website have more than doubled from brands aiming to expand their online presence, resulting in a total second-quarter revenue increase of 27%.

Zalando reported adjusted operating profit more than doubled to €212 million ($249 million) on revenues of €2.03 billion.

Gross merchandise value (GMV) increased by 25.1% to €4.72bn (£4.24bn) in the period, and Zalando achieved an adjusted EBIT of €113.3m (£101.8m).

The online fashion retailer has been focusing on offering brands more logistics and marketing services through its partner programme.

During the second quarter, Zalando said it had signed up 180 brand partners to the programme, whilst the volume of items shipped through its fulfilment solutions was up 180% due to the Covid-19 outbreak creating a demand in online sales.

The number of active customers increased 20% to 34.1 million, meanwhile the average basket size rose slightly to €56.9.

Zalando will also be focusing on expanding its Connected Retail programme, which allows retailers with stores to grow their digital businesses.

In June, Zalando announced it was expecting a greater increase in sales and operating profit in the second quarter than analysts were forecasting as the Coronavirus pandemic has encouraged more consumers to shop online.