Pursuits
German Online Retailer Zalando Quarterly Sales Gain 35%
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Zalando AG, Europe’s largest online shoe and fashion retailer, reported a 35 percent gain in first-quarter sales, increasing the spotlight on the German company ahead of a potential initial public offering.
Revenue was 501 million euros ($693 million), compared with 372 million euros a year earlier, the Berlin-based company said today. That exceeded the 478 million-euro average estimate in an SME Direkt survey. Zalando also said it moved closer to breaking even as it ironed out process difficulties in distribution and spent less per euro of revenue to attract new customers.