The online fashion retailer narrowed its full-year guidance despite reporting €4.9 billion in pro forma GMV for Q2.
Zalando reported a 4.4% year-over-year increase in pro forma gross merchandise volume to €4.9 billion in the second quarter, while adjusted EBIT rose 10% to €205 million. Revenue grew 1.1% pro forma, though the adjusted EBIT margin slipped to 6% from 6.5% due to the consolidation of lower-margin unit ABOUT YOU.
The company maintained its 2026 profit targets but narrowed its full-year growth outlook to the lower half of its prior 12% range, citing softer sneaker demand in the first half. First-half GMV rose 21% on a reported basis, with revenue up 22.2% and adjusted EBIT climbing 16.1% to €270 million.
Co-CEO Robert Gentz acknowledged the top-line growth fell short of ambitions but emphasized progress in multi-app strategy, B2B operations, and AI initiatives as key drivers for long-term targets.