In the first quarter, Zalando again benefited greatly from lower return rates , both in terms of sales and earnings :
For the first quarter of 2021, Zalando SE expects GMV and adjusted EBIT above market expectations. The reasons are a better than expected start to the spring-summer season and a lower than expected return rate.
According to preliminary figures, GMV rose by 54.5-56.5% to 3.13-3.17 billion euros (Q1 2020: 2.0 billion euros), sales grew by 46-48% to 2.22-2 .26 billion euros (Q1 2020: 1.5 billion).
Zalando expects adjusted EBIT between 80-100 million euros for the same period (Q1 2020: -98.6 million euros). ”
In the annual report for 2020, Zalando had already explained how the “considerable decline in the return rate” had come about:
“The favorable development of the return rate in 2020 is due to the changed customer mix with a high proportion of new customers and the changed category mix with a higher proportion of demand-oriented categories.”
Zalando has also found that people returned the goods faster than usual during the Corona period. However, Zalando assumes that the return effects are more of a temporary nature.
Chief Financial Officer David Schröder says: “The successful execution of our platform strategy allowed us to serve even more customers and to create opportunities for even more partners amidst a challenging overall European fashion market environment.”
Zalando will publish its financial figures for the first quarter 2021 on May 6, 2021, at 07.00 CET.
About Zalando*
Zalando is Europe’s leading online platform for fashion and lifestyle. Founded in Berlin in 2008, we bring head-to-toe fashion to more than 38 million active customers in 17 markets, offering clothing, footwear, accessories, and beauty. The assortment of international brands ranges from world famous names to local labels. Our platform is a one-stop fashion destination for inspiration, innovation, and interaction. As Europe’s most fashionable tech company, we work hard to find digital solutions for every aspect of the fashion journey: for our customers, partners and every valuable player in the Zalando story. Our vision is to be the Starting Point for Fashion and a sustainable platform with a net-positive impact for people and the planet.
*) as of Dec 31, 2020
