Zalando optimistic for rest of 2015 after Q1

BERLIN - Europe's largest dedicated online fashion retailer Zalando said it was optimistic for the rest of 2015 after it reported strong first-quarter results.

The company founded in 2008, which only moved into the black at the end of last year, reported first-quarter earnings before interest and tax (EBIT), excluding stock-based compensation costs, of 29 million euros, compared with a year-earlier loss of 23 million.

The Berlin-based firm also said sales rose 28.5 per cent to 644 million euros, adding it expected sales for the full year to rise at the top end or slightly above a 20-25 per cent corridor it had previously predicted.

The firm, which now ships 1,500 brands to customers in 15 countries, has said it expects to increase its staff to about 10,000 by the end of 2015 from around 8,000 now, hiring particularly in the tech and logistics field.