Zalando — the German online fashion retailer, which recently expanded into Ireland— has raised its full year earnings forecast on the back of a strong first-half showing, which saw revenues rise by 31.5% on an annualised basis.
The company opened its Irish office on Dublin’s Barrow Street in April and plans to create up to 200 data and research jobs here.
Yesterday, the Berlin-based company— ranked as Europe’s leading online fashion platform — reported first-half revenues of €1.38bn, up 31.5% year-on-year, and adjusted earnings before tax of €59.2m, a figure which was up from €12.4m for the corresponding period last year.
“Zalando is powering ahead to take full advantage of the great opportunities in European fashion e-commerce. Thanks to our clear focus on customer satisfaction, we have delivered exceptional revenue growth at scale and improving profitability in the first half of 2015,” said company director, Rubin Ritter.
Fittingly, the company has upped its earnings growth projections for the current year, with management now anticipating 28%-31% growth rather than an increase in the region of 20%-25%. That is on the back of a better-than-expected spring/summer season, but earnings margin guidance — at around 4.5% — remains unchanged.
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