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FRANKFURT, Germany — Zalando SE's first-quarter sales rose 29 percent as Europe's largest online fashion retailer posted a second straight quarterly profit.
Revenue reached 643.6 million euros ($721 million), Zalando said Tuesday. Earnings before interest and taxes and adjusted for stock-based compensation were 29 million euros, compared with a 23 million-euro year-earlier loss.
Shares of Zalando, which combines online shopping with fashion magazine-style features, have risen 30 percent since the company's initial public offering last October. The online purveyor is backed by German Internet impresario Oliver Samwer and aggressively hires software developers to keep its site humming and tailor offerings to shoppers.
“We are optimistic about the remainder of the year,” said Rubin Ritter, a board member.
By Aaron Ricadela; editors: Matthew Boyle, Thomas Mulier.
