Executive Summary

• Zalando reported preliminary results showing year-over-year revenue growth of 21.2%–23.2% in 4Q17. The company expects adjusted EBIT of €107–€120 million, corresponding to an adjusted EBIT margin of 8.1%–8.9%.
• The company expects to report FY17 revenues of about €4,478–€4,500 million, up 23.1%–23.7% year over year. Zalando expects adjusted EBIT for FY17 to be €209–€222 million, corresponding to an adjusted EBIT margin of 4.7%–4.9%.
• In FY18, Zalando will continue to invest to achieve strong market share gains.