Zalando revenue up 21% as profit edged up

Zalando SE (ZAL.XE) said Tuesday that its second-quarter revenue jumped almost 21% as aftertax profit edged up slightly on year.

The German online clothing retailer said aftertax profit for the quarter was 51.8 million euros ($59.9 million) compared with EUR48 million a year earlier. Revenue climbed to EUR1.33 billion from EUR1.10 billion, the company said.

A consensus compiled by FactSet pegged aftertax profit at EUR54.9 million and revenue at EUR1.36 billion.

The group said the number of active customers using its platform increased by nearly 16% to 24.6 million and that its customers are ordering more frequently than before.

However, Zalando said it now expects revenue growth to come in the lower half of its 20% to 25% target range and adjusted earnings before interest and taxes to be at the low end of the EUR220 million to EUR270 million range.

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