BERLIN (dpa-AFX) - Zalando SE (ZALNDY), on Thursday, reported first-quarter net loss of EUR 61.3 million compared to a profit of EUR 34.5 million last year.
Group revenue for the quarter slipped 1.5% to EUR 2.21 billion from EUR 2.24 billion generated a year ago. The decline largely reflects the transition of the business to a platform model.
Robert Gentz, Zalando Co-CEO, said, 'Our business fundamentals are strong, and we are taking steps to improve our results. We are managing Zalando for the long term and have always used our business agility and adaptability to successfully respond to short-term challenges and consumer demand to emerge better and stronger. We remain confident that we will achieve our ambition to reach more than 30 billion euros GMV by 2025.'
Looking ahead, the company confirmed its full year 2022 guidance at the lower end of GMV growth of 16% - 23% and lower end of revenue growth of 12% - 19%. Zalando expects to achieve an adjusted EBIT at the lower end of EUR 430 million - EUR 510 million and capital expenditure between EUR 400 million and EUR 500 million.
Copyright(c) 2022 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2022 AFX News
