Difficult Q1 for Zalando

Zalando has been one of the big winners during the pandemic times. It has been one of the few fashion retailers that has been able to grow. And it has grown fast. Q1/2022 is about 50% higher than the pre-pandemic Q1/2020.

Despite the longer term growth, Zalando struggled to reach the revenue levels of Q1/2021. The company reported it’s first revenue decline as the revenues dropped by -1,5%.

One has to note that in Q1/2021 Zalando had reported a whopping +46,8% growth as a result of the pandemic induced boom. Thus, a slight decline is not surprising. However, it will be very interesting to follow how Zalando can grow as the comparison numbers become easier over this year.

Of the two business segments within Zalando, the decline in revenues was driven by the German speaking DACH countries. Their revenues declined by -4%, whereas the Rest of Europe segment reported +1,5% growth.