German online fashion retailer Zalando reported second-quarter group revenue of €3.42bn ($3.94bn), a 20.8% increase, while narrowing its full-year guidance.
Gross merchandise volume (GMV) for the three months to 30 June 2026 rose 20.7% on a reported basis to €4.91bn while net income declined to €73.8m from €96.6m a year earlier.
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Group adjusted earnings before interest and taxes (EBIT) reached €204.8m, up 10% on the same period last year.
Synergies from the About You acquisition contributed more than €10m to adjusted EBIT, the company said.
The 6% group margin reflects the consolidation of About You while Zalando’s standalone margin rose to 6.6%.
GMV grew across all three of Zalando’s consumer apps – Zalando, About You and Lounge by Zalando – within the business-to-consumer (B2C) segment, with the company pointing to strength in sports and beauty.
B2C revenue rose to €3.09bn from €2.57bn in the prior-year period.
The retailer’s active customer base grew 18.3% to 62.5 million, a rise attributed to the About You consolidation together with organic growth.
Revenue in the business-to-business (B2B) segment climbed 27.6% on a reported basis to €334.7m, which Zalando attributed to scale efficiencies at Zeos Fulfilment and stronger-margin revenue from its Scayle software unit.
The company’s partnership with Marks & Spencer has gone live across 22 markets, and its collaboration with Next has been widened to include About You’s marketplace.
Zalando narrowed its full-year 2026 guidance, with GMV and revenue growth now expected in the lower half of the previously communicated 12% to 17% range, in line with market expectations.
Full-year adjusted EBIT guidance was revised to a range of €680m to €720m, from the earlier €660m to €740m band.
The company said its assessment of second-half trading dynamics remains unchanged, describing the narrower guidance as a reflection of first-half results already delivered rather than a change in outlook for the rest of the year.
Zalando co-CEO Robert Gentz said: “Our fast-scaling AI capabilities are already delivering measurable benefits in driving both growth and efficiency across B2C and B2B.
“Innovations like our AI-powered Scayle Studios and the upgraded Zalando Assistant are fundamentally transforming how our partners operate and how our customers discover fashion.”
Germany’s Federal Financial Supervisory Authority (BaFin) concluded a review last month into Zalando’s 2025 annual report, finding that the company’s approved consolidated financial statements contained errors.
The regulator did not impose a fine, with the review conducted under the German Securities Trading Act (WpHG).
BaFin found that the notes to Zalando’s consolidated accounts had not disclosed the retailer’s acquisition of shares in About You from a related party during the 2025 financial year.
