Zalando shares erase gains as concerns about agent-based commerce weigh, despite higher Q1 numbers

Zalando SE

06/05/2026 08:33

Changes lead, updates share move and milestone

** Shares in Zalando ZALG.DE reverse course and fall 1.8%after rising as much as 4.6%, while lack of upgrades and ongoing concerns about the medium-term impact of agent-based commerce weigh on shares despite higher Q1 numbers

** Zalando posts Q1 gross merchandise volume (GMV) of 4.3 billion euros (5.04 billion), up 21.7% from 3.5 billion euros a year earlier

** Its quarterly adjusted EBIT amounted to 64.8 million euros, compared to 46.7 million euros last year

** "Given the relatively high short interest, we would expect the stock to move higher, although the lack of implied upgrades and ongoing concerns on the mid-term outlook from the development of agentic commerce, mean that any material move up is unlikely to be sustained in our view," JPM adds

** Zalando confirms its annual guidance for 2026

** The stock, which has lost 20.3% YTD including today's session, is seen among the worst performers of Germany's blue-chip index .GDAXI

($1 = 0.8525 euros)

 (Reporting by Ozan Ergenay)

 ((ozan.ergenay@thomsonreuters.com))