• Zalando Q1 revenues rose 22% to EUR1.2bn.
  • Net loss in the period amounted to EUR15m (US$17.8m), compared to net income of EUR5.1m a year earlier.
  • Adjusted EBIT margin narrowed to 0.0% from 2.1%.

Berlin-based fashion e-tailer Zalando has reaffirmed its 20-25% growth target for the fourth consecutive year despite moving to a loss in the first quarter of 2018.

During the period, net loss amounted to EUR15m (US$17.8m), compared to net income of EUR5.1m a year earlier, while adjusted EBIT was EUR0.4m, compared to EUR20.3m in the year-ago period. Adjusted EBIT margin narrowed to 0.0% from 2.1%.

Group revenue, meanwhile, rose 22% to EUR1.2bn from EUR980.2m last year, while the company increased its active customer base in the period by 3.5m, or 16.7%, to 23.9m. On average, each active customer placed four orders with Zalando in the last twelve months, marking an all-time high.

"Growth is our top priority and that's exactly what we have focused on in the first quarter, despite a challenging fashion market environment," said CEO Rubin Ritter. "A delayed start of the spring/summer season put pressure on the industry, however, we have our eyes firmly set on our growth targets."

Looking ahead, Zalando confirmed its full-year guidance of revenue growth at 20%-25% and an adjusted EBIT between EUR220m and EUR270m.