Sees 2024 GMV and revenue growth of 05
Forecasts GMV and revenues up 510 CAGR to 2028
To open up logistics services to more retailers
Expects 2024 adjusted EBIT at 380450 million euros
Shares rise as much as 18.5

March 13 Reuters German online fashion retailer Zalando on Wednesday forecast a return to growth this year and said it was opening up its logistics business to more players, raising hopes of a boost to its performance and helping to lift its shares.

The stock jumped as much as 18.5 after the company also said late Tuesday it would buy back up to 100 million euros 109 million of shares, starting from March 13.

Zalando said on Wednesday it expected gross merchandise value GMV growth, a key metric measuring the value of all goods sold, of between 0 and 5 this year, after a 1.1 decline to 14.6 billion euros in 2023.

It said it was targeting a compound annual growth rate of 510 for GMV and revenue through 2028, as it updated strategies for both its fashionlifestyle business and its infrastructure business B2B ahead of a Capital Markets Day on Wednesday.

In B2B, Zalando is opening up its logistics network, software and services to help the ecommerce transactions of brands and retailers regardless whether they take place on its platform.

By doing so, Zalando seems to be reckoning that the historical growth story relying on evenincreasing online fashion penetration is now close to the glass ceiling, said Bryan, Garnier Co analyst Clement Genelot.

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