Zalando : Q4 2023 profits higher, 2024 outlook in line, which is positive
>Lower costs drive EBIT beat in Q4, FY 2024 outlook not as bad as feared - Q4 2023: In Q4, GMV was down 3% y-o-y to € 4,450m (consensus: € 4,498m, ODDO BHFe: € 4,474m) and sales decreased 4% to € 3,056m (consensus: € 3,059m, ODDO BHFe: € 3,083m), both in line with expectations. Adjusted EBIT came in some 16% above expectations at € 183m (consensus: € 158m, ODDO BHFe: € 157m) with a margin of 6% (up 140bp) mainly thanks to a higher gross margin and lower fulfilment c...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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