Zalando : Q3 above, raising FY 2024 outlook
>Some 8% GMV growth and almost 300bp margin enhancement - Yesterday evening Zalando pre-released strong Q3 results. In Q3, GMV was up 8% y-o-y at € 3.5bn (consensus: € 3.4bn, ODDO BHFe: € 3.4bn) and thus 2% above the company-compiled consensus. Sales increased 5% y-o-y to € 2.4bn (consensus: € 2.4bn, ODDO BHFe: € 2.4bn) in line with consensus expectations. No details with regards to regions or segments were provided at this point, but we believe all regions and segme...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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