By Ludwig Burger
FRANKFURT, March 15 (Reuters) – German on-line trend retailer Zalando ZALG.DE mentioned on Monday its income expectations for 2021 have been considerably above market projections, following a powerful begin to the 12 months.
Gross merchandise quantity (GMV) – or gross sales made on its web site by itself or by its companions – would possible enhance 27%-32% to between 13.6 billion euros ($16.22 billion) and 14.1 billion euros in 2021, above common analyst expectations of 25% development.
The acquire in GMV was round 50% within the first quarter, marking an “a very robust begin to the 12 months”, Zalando mentioned.
Whereas it didn’t present a cause for the upswing, different e-commerce teams have benefited from individuals ordering items on-line amid restrictions in the course of the coronavirus pandemic.
The pattern has helped German logistics large Deutsche Submit DPWGn.DE elevate its medium-term monetary targets final week, whereas UK warehousing specialist Segro SGRO.L has seen rising demand for fulfilment centres from e-commerce firms.
Zalando expects adjusted earnings earlier than curiosity and tax of 350 million to 425 million euros this 12 months, which compares with 420.8 million euros reported for final 12 months and a 2021 analyst consensus of 361 million.
($1 = 0.8387 euros)
(Reporting by Ludwig Burger. Enhancing by Jane Merriman and David Evans)
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