Germany's Zalando Q2 revenue beats on contribution from ABOUT YOU acquisition

Zalando SE

04/08/2026 06:12

Overview
Germany-based fashion e-commerce platform's Q2 revenue grew 21%, beating analyst expectations
Adjusted EBIT for Q2 rose 10% to 205 mln EUR, aided by ABOUT YOU acquisition synergies
Company refined 2026 outlook, now expects GMV and revenue growth in lower half of prior range

Outlook
Zalando expects 2026 GMV and revenue growth in the lower half of its 12%-17% range
Company narrows 2026 full-year adjusted EBIT guidance to 680 mln-720 mln euros
Zalando sees increased confidence in reaching midpoint of EBIT guidance for 2026

Result Drivers
ABOUT YOU SYNERGIES - Co said ABOUT YOU acquisition contributed more than 10 mln EUR to adjusted EBIT
B2B EXPANSION - B2B revenue grew 28% and margin expanded, driven by ZEOS Fulfilment scale efficiencies and higher-margin SCAYLE software revenue
AI-POWERED EFFICIENCY - Fast-scaling AI capabilities, including SCAYLE STUDIOS, reduced content production time and costs, supporting growth and efficiency

Company press release: ID:nEQ1YSpwSa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
EUR 3.42 bln
EUR 3.38 bln (6 Analysts)
Q2 Net Income
 
EUR 73.80 mln
 
Q2 Adjusted EBIT
 
EUR 204.80 mln
 
Q2 Adjusted EBIT Margin
 
6.00%
 
Q2 GMV
 
EUR 4.92 bln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 20 "strong buy" or "buy", 7 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the online services peer group is "buy"
Wall Street's median 12-month price target for Zalando SE is €35.00, about 20.2% above its August 3 closing price of €29.11
The stock recently traded at 18 times the next 12-month earnings vs. a P/E of 14 three months ago

Reuters Recommended Reads
Aug 3 - German retail sales fall more than expected in June
Aug 3 - Nivea maker Beiersdorf cuts guidance for 2026, citing difficult market
Aug 4 - Singapore's Grab lifts annual forecasts as AI, incentives drive growth 

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)