×
53 668
Fashion Jobs
JCREW
Human Resources Business Partner
Permanent · New York
JCREW
Manager of Fabric Operations
Permanent · New York
JCREW
HR Business Partner - Madewell
Permanent · New York
NORDSTROM
Asset Protection - Agent - Cherry Creek Rack
Permanent · Denver
NORDSTROM
Asset Protection - Security Ambassador - Garden State Plaza
Permanent · Paramus
NORDSTROM
Asset Protection - Security Ambassador - Towson Rack
Permanent · Towson
NORDSTROM
Asset Protection - Agent - Somerset Collection
Permanent · Troy
NORDSTROM
Asset Protection - Security Ambassador - Stephanie Street Center Rack
Permanent · Henderson
NORDSTROM
Asset Protection - Agent - Spokane Valley Plaza Rack
Permanent · Spokane
NORDSTROM
Asset Protection - Agent - The Plaza at Jordan Creek Rack
Permanent · West Des Moines
NORDSTROM
Asset Protection - Security Ambassador - The Sono Collection
Permanent · Norwalk
NORDSTROM
Asset Protection - Security Ambassador - Harbour Center Rack
Permanent · Annapolis
NORDSTROM
Asset Protection - Tucson Wilmot Plaza Rack
Permanent · Tucson
NORDSTROM
Asset Protection - Security Ambassador - Houston Galleria
Permanent · Houston
NORDSTROM
Asset Protection - Security Ambassador - Belmar Rack
Permanent · Lakewood
NORDSTROM
Asset Protection - Agent - Downtown Seattle
Permanent · Seattle
NORDSTROM
Asset Protection - Security Ambassador - The Gallery at Westbury Plaza Rack
Permanent · Garden City
NORDSTROM
Asset Protection - Agent - Beverly Connection Rack
Permanent · Los Angeles
NORDSTROM
Asset Protection - Security Ambassador - Carmel Mountain Plaza Rack
Permanent · San Diego
NORDSTROM
Asset Protection - Security Ambassador - Topanga
Permanent · Los Angeles
NORDSTROM
Asset Protection - Agent - Menlo Park
Permanent · Edison
NORDSTROM
Asset Protection - Agent - Natick Mall
Permanent · Natick
Published
Oct 9, 2020
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Zalando sees strong Q3 as demand rises but returns stay low

Published
Oct 9, 2020

Zalando enjoyed a strong third quarter, helped by a lower returns rate, with the German e-commerce giant saying it’s able to raise its outlook for the full year as a result.


Zalando



It saw “exceptionally strong and profitable growth” in Q3 and now expects gross merchandise volume (GMV) to grow between 25% and 27% for the year. Meanwhile, revenues to should grow 20%-22% and profit on an adjusted EBIT basis should be €375 million-€425 million.

Back in July, it had forecast GMV up 20%-25%, revenue up 15%-20% and adjusted EBIt of €250 million-€300 million.

So what exactly happened in Q3? The company won’t release its final Q3 results until next month and didn’t have final figures but said GMV was up between 28% and 31% to €2.43 billion-€2.48 billion. And revenues rose 20%-23% to €1.83 billion-€1.87 billion. Adjusted EBIT for the quarter should be between €100 million and €130 million.

The company said it saw a “continued very strong and successful execution of the Zalando platform strategy, against the backdrop of an accelerated consumer demand shift towards digital offerings in the course of the corona pandemic [that] positively impacted [its] strong development.”

And like a number of e-tail pureplays and omnichannel retailers globally it also highlighted the “continued lower return rate”. It seems that during lockdowns and after them, consumers have been buying in a more focused way and returning fewer items, which gives retailers better inventory visibility and cuts their costs.

The company added that it enjoyed a substantial one-off effect caused by the reversal of the exceptional write-down of inventories. These had been booked in March, and at the time it hadn’t expected the “fast and sustained recovery of consumer demand” that it has subsequently seen.

Copyright © 2022 FashionNetwork.com All rights reserved.