Zalando SE (ZAL) Earnings Call Transcripts

Zalando SE's Latest Earnings Call - Q1 FY2026

In Q1 2026, Zalando SE reported strong financial performance, with group revenue increasing nearly 24% year-over-year to EUR 3 billion, driven by a 22% growth in gross merchandise volume (GMV). Adjusted EBIT rose 39% to EUR 65 million, resulting in an adjusted EBIT margin of 2.2%. Management reiterated its full-year guidance, indicating confidence in achieving its targets despite ongoing geopolitical and economic challenges.

Reported metrics

Guidance from management

Management reaffirmed its guidance for the full year 2026, indicating confidence in achieving targets despite external challenges. They expect GMV growth to remain in the mid-single-digit range for Q2.

What management said

Good morning, and welcome to our Q1 2026 earnings call. Today, I'm joined by our co-CEO, Robert Gentz, and our CFO, Anna Dimitrova. Robert will kick off with a business update before handing over to Anna to walk you through the financial development of the quarter. Finally, Robert will discuss our outlook. Both will be available for questions afterwards. As usual, during the Q&A session, we kindly ask you to limit y...

Yes. I mean, as Anna said, like the consumer demand persists in today's environment. And I guess the difference, I think, that we see towards 2022, I think in 2022, there was actually like a big -- there was actually like observable big difference in how consumers actually reacted to the situation. And became actually from 1 day to the other, like much more price-sensible cost, and we saw that very much like to ensur...

What analysts pressed on

Analysts expressed concerns regarding the impact of rising fulfillment costs and the ongoing dilution from the consolidation of ABOUT YOU. Questions were raised about the sustainability of gross margins in the context of increased inventory clearance efforts and the competitive landscape.

Main topics on the call

• Strong Revenue Growth — Zalando achieved a nearly 24% increase in revenue compared to Q1 2025, reaching EUR 3 billion. This growth was primarily driven by strong performance in both B2C and B2B segments, with management stating, "Our Q1 perform...
• AI Capabilities Advancements — Management highlighted significant progress in AI capabilities, which are enhancing both B2C and B2B operations. Robert Gentz noted, "AI is a powerful catalyst for both growth and efficiency," indicating its role in driv...
• B2B Segment Performance — The B2B segment experienced nearly 24% revenue growth, significantly outpacing the overall group revenue growth. Adjusted EBIT for B2B increased more than fourfold to EUR 26 million, reflecting strong demand and operatio...
• Customer Growth and Engagement — Zalando reported a substantial increase in active customers, reaching 62.3 million, up nearly 10 million year-over-year. The management emphasized that this growth was driven by the inclusion of ABOUT YOU and improved cu...

Read the full Zalando SE transcript (Q1 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 60 Zalando SE earnings call transcripts on record, spanning February 27, 2020 to August 4, 2026. Based on this history, Zalando SE reports quarterly. The most recent call on file is dated August 4, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

ZAL

Exchange

XTRA

Country

DE

Sector

Consumer Discretionary

Industry

Specialty Retail

Calls on record

60

First call

February 27, 2020

Most recent

August 4, 2026

Reporting cadence

quarterly