Zalando posted significant growth in the second quarter of 2026. Gross merchandise volume (GMV) increased by 20,7 percent year-on-year to €4,92 billion. Group revenue rose by 20,8 percent to €3,42 billion. These figures include the fashion platform About You, acquired in July 2025.
Adjusted operating profit improved by around ten percent to €204,8 million. However, the adjusted EBIT margin declined from 6,5 to 6,0 percent. Excluding the consolidation of About You, the margin of the existing Zalando business increased to 6,6 percent. According to the company, synergies from the acquisition contributed more than €10 million to earnings in the second quarter. Net profit, on the other hand, fell from €96,6 million to €73,8 million.
B2B business is gaining in importance
The business with services for brands and retailers developed particularly dynamically. Revenue in the B2B segment rose by 27,6 percent to €334,7 million. Adjusted EBIT increased from €11,4 million to €40,7 million, and the margin improved from 4,3 percent to 12,2 percent. The B2B division includes, among others, the logistics platform ZEOS and the software providers Tradebyte and Scayle.
Zalando is thus increasingly opening up its logistics, software, and service infrastructure to external companies. The Wortmann Group is among the new Scayle customers. Furthermore, a collaboration with the British retail group Marks & Spencer is set to launch in 22 markets. According to Zalando, the AI-powered Scayle Studios platform, which enables brands to digitally create product images and fashion content, is now used by more than 100 brands.
The end-customer business also grew. Gross merchandise volume (GMV) increased across the three apps: Zalando, About You, and Lounge by Zalando. The number of active customers reached 62,5 million, an 18,3 percent increase compared to the previous year. The number of orders rose from 65 million to 77,5 million, and the average order value increased from €61,60 to €63,40. According to Zalando, the sports and beauty categories performed particularly well.
Growth at the lower end of previous forecasts
Zalando is now taking a more cautious approach to growth for the full year. The company expects revenue and GMV to grow in the lower half of its previously forecast range of 12 to 17 percent. The forecast for adjusted EBIT has been narrowed from €660-740 million to €680-720 million.
Zalando attributes the increased confidence in its results, among other things, to further synergies from the About You acquisition, efficiency measures, and expected savings from the reorganization of its European logistics network. Nevertheless, the more cautious growth forecast was poorly received on the stock market: Zalando shares temporarily lost significant value on Tuesday morning.
