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The online retailer earned a lot more in the third quarter. The reason is the pandemic and different customer behavior.
Zalando is booming during the crown crisis.
KEYSTONE
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Zalando achieved a fifth more sales in the third quarter.
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Profit has also increased significantly.
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The online retailer has benefited from the pandemic.
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Plus, customers return fewer packages.
Online fashion retailer Zalando has grown significantly thanks to the surge in internet orders in the midst of the Corona crisis. Sales increased in the third quarter by more than a fifth to 1.85 billion euros.
Adjusted operating profit rose to 118.2 million euros after just 6.3 million euros in the same period of the previous year, the Berlin-based company announced Wednesday. Analysts had expected a lower profit.
New customers thanks to the pandemic
Zalando is benefiting from increasing digitization and the fact that it is now a matter of course to buy clothes online. After a brief dampening of the outbreak of the pandemic, the company gained new customers who also returned less merchandise, reducing the high return costs
In order to help retailers and expand its range, Zalando plans to triple the number of stores connected to its platform over the next year. No fees would be payable for these partners until the end of the first quarter of 2021.
(SDA)
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