BERLIN (Reuters) – Zalando, Europe’s number one online fashion company, warned on Tuesday that its turnover could decline in 2023 due to a more difficult economic environment since the coronavirus pandemic.
The German group reported a turnover of 10.34 billion euros in 2022, at the bottom of its annual forecast range. He estimates the evolution of his turnover for 2023 between a drop of 1% and a growth of more than 4%.
Zalando further said it will continue to focus on improving profitability in 2023, including cutting several hundred jobs across many teams.
“As consumers have returned to in-store shopping post-pandemic, e-commerce adoption has reversed more than initially expected, albeit at higher levels than before the pandemic,” the group said.
The group’s adjusted profit before interest and tax (EBIT) for the whole of 2022 fell by 60.1% to 184.6 million euros in 2022.
(Hakan Ersan report, written by Miranda Murray; Diana Mandiá, edited by Blandine Hénault)
Copyright © 2023 Thomson Reuters
I have over 8 years of experience working in the news industry. I have worked as a reporter, editor, and now managing editor at 247 News Agency. I am responsible for the day-to-day operations of the news website and overseeing all of the content that is published. I also write a column for the website, covering mostly market news.
