BERLIN (dpa-AFX) - Zalando SE (ZLNDY), a German online fashion retailer, on Thursday reported a surge in net profit for the second-quarter, reflecting lower fulfillment costs. However, amidst a challenging environment, the company posted a decline in revenue.
In addition, for full year, the e-commerce company has revised its guidance.
For the three-month period, the Berlin-headquartered firm posted a net income of 56.6 million euros, a jump from 14 million euros, posted for the same period of previous year.
Excluding items, EBIT was at 144.8 million euros as against last year's 77.4 million euros.
Gross merchandise volume or GMV stood at 3.718 billion euros, lesser than 3.787 billion euros a year ago. Revenue edged down to 2.556 billion euros from previous year's 2.623 billion euros.
Looking ahead, for full year 2023, the retailer now expects its adjusted EBIT to be in the range of 300 million euros to 350 million euros against its previous expectation of 280 million euros and 350 million euros.
Zalando said GMV and revenue are more likely to be in the lower half of the initial guidance ranges of 1 percent to 7 percent for GMV and -1 percent to 4 percent for revenue.
For 2022, the company had posted adjusted EBIT of 184.6 million euros, with GMV of 14.8 billion euros, on revenue of 10.3 billion euros.
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