Zalando’s revenue is declining despite an increase in active customers

He also revealed that the gross volume of goods (GMV) increased by 1% to 3.2 billion euros (2.7 billion British pounds) in the first quarter, compared to “extremely” strong growth in the first quarter of 2021

Zalando also reported adjusted EBIT of € -51.8 million (£ 43.6 million), corresponding to a margin of -2.4%, mainly due to reduced gross margin as a result of more promotional activities to attract customers and increased costs. for execution.

Looking ahead, Zalando has reaffirmed its 2022 guidelines for a lower end of GMV growth of 16-23% and a lower end of revenue growth of 12-19%. Zalando also added that it expects adjusted EBIT at the bottom of € 430-510 million (£ 362 million – £ 430 million) and capital expenditure between € 400 million – € 500 million (£ 337 million). – £ 421 million).

Robert Gentz, co-CEO of Zalando, said: “Our business fundamentals are strong and we are taking steps to improve results.

“We manage Zalando in the long run and have always used our business flexibility and adaptability to successfully meet short-term challenges and consumer demand to become better and stronger. We remain confident that we will achieve our ambition to reach more than 30 billion euros GMV by 2025.