Zalando : Q4 2023 results due on 13 March – No growth but good cost control
>GMV down 2% but the operating margin up 50bp in Q4 - Zalando is due to report its Q4 2023 results on 13 March. We forecast a 2-3% y-o-y decline in GMV/sales. While development was positive in October, we assume that November and December were weaker months, also affected by tougher comparison bases. Adjusted EBIT should come in at € 157m which implies a margin of 5.1% (up 50bp y-o-y). While the gross margin should be up 10bp y-o-y we expect the opex to sales ratio to...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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