Zalando : Q1 profits above forecasts, FY 2024 targets confirmed
>GMV and revenue flat in Q1, adjusted EBIT margin up 130bp - In Q1, GMV was up 1% y-o-y to € 3,270m (consensus: € 3,242m, ODDO BHFe: € 3,268m) and sales decreased 1% to € 2,241m (consensus: € 2,262m, ODDO BHFe: € 2,267m), i.e. both were in line with consensus expectations. B2C revenue was down 2% while B2B revenue increased by 13%. Adjusted EBIT came in at € 28m (consensus: € 20m, ODDO BHFe: € 20m) with a margin of 1.3% (up 130bp) thanks to materially lower fulfilment...Zalando is an e-commerce group based in Germany. Co. is engaged in the online retailing of clothing, shoes and accessories for women, men and children. Co.'s product offering include more than 1,500 brands, including global and local brands, as well as private labels, including shoes, clothing and accessores as well as sportswear and homeware designed especially for the Co. The Co.'s product offering is complimented by the Zalando Lounge and Zalon apps, which provides registered members special offers at discounted prices. Co. also provides a combination of services that include free delivery and returns.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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