FRANKFURT/STOCKHOLM, July 18 Europe's biggest
online fashion retailer Zalando, a possible IPO candidate, said
on Friday it had its first profitable quarter ever on an
"The favorable trend towards break-even observed in Q1 2014
accelerated, leading to a profitable Q2 at group level and a
first half-year group EBIT margin around break-even," the
company said in a statement.
Zalando, which is 37-percent owned by Swedish investment
firm Kinnevik, started selling shoes in Germany in
2008 and now ships 1,500 different brands to customers in 15
Zalando said it expected second-quarter sales to come in at
between 520 million euros ($703.04 million) and 560 million
euros, up from 437 million in the same period last year.
"Based on this development we reiterate our plan to take a
significant step towards, but not quite reaching, EBIT
break-even at group level for the full year 2014," Rubin Ritter,
member of Zalando's management board, said in a statement.
The Berlin-based start-up, whose rivals include
Britain-based ASOS Plc, is considering an IPO in
October, people familiar with the transaction have told Reuters.
($1 = 0.7396 Euros)
(Reporting by Harro ten Wolde and Mia Shanley; Editing by