News: Zalando’s outlook for 2021 revenue growth above market expectations.
FRANKFURT (Reuters) – German online fashion retailer Zalando said on Monday that its sales expectations for 2021 were well above market forecasts after a strong start to the year.
Gross Volume of Goods (GMV) – or sales on its site alone or by its partners – would likely rise 27% to 32% to € 13.6 billion ($ 16.22 billion) to € 14.1 billion in 2021, above average analyst expectations of 25% growth lies.
The growth at GMV was around 50% in the first quarter, which is an “extremely strong start to the year,” said Zalando.
While this wasn’t a reason for the recovery, other ecommerce groups have benefited from people ordering goods online due to restrictions during the coronavirus pandemic.
The trend last week helped German logistics giant Deutsche Post hit its medium-term financial targets, while British warehouse specialist Segro saw rising demand for fulfillment centers from e-commerce companies.
For this year, Zalando expects adjusted earnings before interest and taxes of 350 to 425 million euros, compared to 420.8 million euros in the previous year and an analyst consensus of 361 million euros for 2021.
($ 1 = 0.8387 euros)
Reporting by Ludwig Burger. Adaptation by Jane Merriman and David Evans
Original Source © Reuters