Zalando has upped its guidance as sales and profits soar in ‘strong start’ to autumn/winter

In a preliminary trading update, Zalando reported soaring adjusted EBIT during the third quarter which rose from €23m (£19.3m) to €93m (£77.8m).

Sales during the quarter were up 5% year on year to €2.4bn (£2.01bn).

Zalando credited its performance to its ability to “capture increasing consumer demand” and called the start of the autumn/winter season “strong”.

The retailer hailed its ongoing growth and said its number of active customers now exceeds 50 million.

Zalando has upped its full-year guidance and said it expects revenue to grow between 2% and 5%, up from the previously pledged guidance of 0% to 5%.

Adjusted EBIT is anticipated to be between €440m (£368.2m) and €480m (£401.7m), compared to the previous guidance of between €380m (£318m) and €450m (£376.6m).

Co-chief executive Robert Gentz said: “Consumer demand has increased across the industry in the third quarter, with a strong start to the fall/winter season, compared to last year’s slow beginning.

“Our new ecosystem strategy, empowering us to cover a larger share of the fashion and lifestyle ecommerce market, positions us very well to capture growth opportunities.”

Gentz added that Zalando’s priorities include investments in its “key strategic initiatives” such as driving customer loyalty, offering an “inspiring and entertaining” customer journey and bolstering its European logistics network.