German online fashion retailer Zalando last night increased its full year earnings guidance, as the coronavirus pandemic prompts more people to shop online.
The company said it expects to grow gross merchandise volume (GMV) by 20% to 25% and revenue by 15% to 20% in 2020.
This is up from its guidance from May 6 when the company had expected GMV and revenue growth of 10% to 20%.
Europe's biggest online-only fashion retailer said it expects adjusted earnings before interest and tax (EBIT) of €250-300m for the full year.
