August 2023

PARIS – European e-commerce behemoth Zalando saw revenues fall 2.5 percent within the second quarter to 2.6 billion euros in what the corporate called a “difficult retail environment.” But net income surged 87 percent to 144.8 million euros year-on-year, because the Berlin-based company grew its achievement and logistics offering, and focused on cost-cutting measures. “Amid the temporarily difficult retail environment, we proceed to drive sustainable efficiencies in achievement and marketing,” said Zalando chief financial officer Sandra Dembeck. “These efforts have paid off this yr with adjusted EBIT almost doubling within the second quarter. Such success puts us in pole position to shift our focus more towards investment and future growth initiatives.” The revenue drop got here as the corporate strengthened its product offering,...