Zalando : Q2 due 6 August – Return to growth and further margin progress
>GMV growth of 3% and 70bp operating margin increase - Zalando will report Q2 2024 results on 6 August. We forecast GMV and sales to increase 3% y-o-y. This reflects a good start to Q2. Moreover, we do not think that H&M data for June (sales down 6% y-o-y) is a direct read-across to Zalando as we think Zalando has a better inventory position. Adjusted EBIT should come in at € 166m, which implies a margin of 6.3% (up 70bp y-o-y). While the gross margin should be up 4...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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