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Zalando aims for 1st year of profits
2014-11-29 source ownGerman Sports and Fashion group, Zalando aims for 1st year of profits .Depending upon its 3rd quarter results, Zalando is eyeing its first profitable year since it was founded. The Berlin-based sports, fashion and shoe retailer improved sales by 24.2 % over the previous year’s period to €501 million. Turnover outside German-speaking nations soared by 39.9 % to €198 million.
For the first time ever in a third quarter, Zalando was profitable with a profit margin ( Ebit ) of 0.8 percent compared with -12.4 % last year. Free cash flow was €80 million. The retailer, which went public on Oct. 1 points out the good results are as a result of continuous cost efficiency combined with powerful sales growth.
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