Zalando increases customers by 20 percent during pandemic

The online retailer Zalando more than doubled its net profits between May and June in the second quarter from €45.5 million in 2019 to €122.6 million. Its EBIT more than doubled for the same period to €211.9 million on sales which rose 27.4 percent to €2 billion. Speaking on an analyst calls, Zalando's CFO David Schroder said the third quarter had also begun strongly and that if there's no second wave of the pandemic, the company can achieve the upper range of its profit forecasts. Increased customer orders are helping Zalando's results, as its number of active customers rose more than 20 percent over the last year to 34 million. But it's having increased success in convincing other retailers to use its platform as a place to sell their goods. Such partners now make up 15 percent of Zalando's gross volume of goods.