Zalando, the Berlin-based online fashion retailer, starts the 2024 fiscal year on a positive note by achieving black figures operationally in the first quarter and significantly improving its operational margin. Despite a slight decline in revenue to 2.24 billion euros from around 2.26 billion euros previously, Zalando was able to post an adjusted operating profit (EBIT) of 28.3 million euros, a clear improvement over the nearly break-even result of the same quarter last year.

The particular highlight is the increase in the Gross Merchandise Volume (GMV), which rose slightly from 3.23 billion to 3.27 billion euros, underscoring the sustained demand in a challenging market environment. Despite the increased GMV, revenue remains slightly behind the previous year's level, reflecting the complex market conditions in which the company operates.

Zalando Additionally Recorded a Reduction in Net Loss to 8.9 Million Euros, Compared to About 39 Million Euros in the Same Quarter of the Previous Year, Attributable to Improved Operational Efficiency and Cost Management. The Adjusted EBIT Margin Accordingly Improved to 1.3 Percent.

For the full fiscal year, Zalando reaffirms its goal of achieving an adjusted EBIT of between 380 and 450 million euros and expects growth in gross merchandise value as well as sales in the range of 0 to 5 percent. This reflects the company's strategic efforts to assert itself in a highly competitive environment while simultaneously focusing on sustainable growth. The positive outlook for the remainder of the year indicates that Zalando is well-positioned to further strengthen and expand its market position despite temporary challenges.