Zalando posts strong Q3 growth, raises forecast

Zalando SE said that the company achieved profitable growth in the third quarter of 2020. The company’s gross merchandise volume (GMV) and revenue grew by 29.9 percent and 21.6 percent to 2.5 billion and 1.8 billion euros, respectively, driven by the accelerated consumer demand shift towards digital offerings in the course of the ongoing coronavirus pandemic, as well as the strong performance of Zalando’s Partner Program and Zalando Lounge. In the same period Zalando achieved an adjusted EBIT of 118.2 million euros or a margin of 6.4 percent.