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Zalando (XTRA: ZAL) 1Q19 Results: Higher Fulfillment and Administrative Costs Hurt Profits; Guidance Intact

Executive Summary

  • Zalando reported 1Q19 sales of €1.38 billion, up 15.2% year over year and in line with the consensus estimate recorded by StreetAccount.
  • The company’s adjusted operating income grew 1,500% to €6.4 million, with an operating margin of 0.5%.
  • Zalando maintained its earlier guidance for FY19 and expects GMV growth in the range of 20% to 25% and revenue growth at the low end of the 20% to 25% range.

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