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Zalando Q2 Revenues and Earnings Rise, Guidance Confirmed

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Zalando Q2 2024 earnings are in: Revenues rose 3.4 percent and operating profit surged 18 percent.

Revenues rose 3.4 percent to 2.64 billion euros over the period. This meant that for the first half of the year, the German e-commerce giant’s revenues rose 1.5 percent to 4.88 billion euros.

The results, coming after more than a year of lower growth, show that the company’s turnaround strategy is delivering, Zalando co-chief executive officer Robert Gentz said in a statement. In short, the new strategy is about becoming more of a lifestyle destination for customers and pushing products from categories like beauty, sportswear, premium and luxury, streamlining logistics and ratcheting up inspirational magazine-style content to draw more shoppers in. This is meant to help Zalando compete with online retailers like China’s Shein, who focus on fast fashion and lower prices.

The total number of orders rose 0.3 percent to 63.4 million in the second quarter. The value of each customers’ basket, or spend, rose 4.6 percent to 60.8 euros.

 

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