Zalando's 'better than expected' revenues exceed £8 billion

European E-commerce giant, Zalando, has exceeded its own profitability guidance for fiscal year 2024 thanks to a “better than expected” fourth quarter.

Preliminary figures show gross merchandise volume (GMV) rose by 4.5 % to £12.8 billion (€15.3 billion) for the year ending 10 October 2024. Revenue grew by 3.9 % to £8.8 billion (€10.5 billion) and capital expenditure amounted to £176 million (€210 million).

Zalando said its growth was driven by “strong customer growth fuelled by marketing and better sell-through”. Adjusted EBIT is expected to reach around £429 million (€510 million), above the company's current guidance which was £370-404 million (€440-480 million).

The financial figures are preliminary and unaudited. Zalando SE will publish its results for the financial year 2024 on 6 March 2025.

Last month, the e-tailer entered an agreement to acquire German fashion e-tailer About You to "better serve the needs of customers and partners". In other words, by acquiring About You, Zalando continued to execute its vision of becoming "a leading European ecosystem for fashion".

Major About You shareholders (Otto Group, Otto Family, Heartland and current management), which represent 73% of the company’s share capital, entered into binding agreements to sell their shares by accepting the public offer or separately to Zalando.