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Zalando Continues to Gain in Q3, but the Future Looks Expensive

BERLIN — Zalando confirmed its guidance — revenue growth of around 20 percent — and boasted that the site had seen one billion visits in the last three months, as it reported strong third-quarter results on Thursday. That makes for around 14 million more visitors since June and is in line with Zalando’s previously stated ambition to become “the starting point for fashion in Europe.” Revenues grew 26.7 percent in the third quarter to 1.5 billion euros and gross merchandise volume rose 24.6 percent to 1.9 billion euros. Zalando started using the latter indicator — GMV for short — for the first time this year to show how much product it had shifted. As the Berlin-based company has transitioned to being more of a platform, developing logistics and marketing relationships with suppliers rather than making its own products, this metric makes better sense, the company has argued. However the company’s adjusted EBIT — earnings before interest and taxes, which show how well a company’s core operations are going — didn’t rise as much as other numbers, with Zalando achieving 0.4 percent growth in this area over the quarter, to reach 6.3 million euros. In the first half of the year, EBIT had been

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