its Q1, Zalando reported a 1.3% increase in gross merchandise volume to €3.3 billion, while revenue fell slightly from €2.3 billion last year to €2.2 billion during the quarter. Active customers dropped from 51.2 million last year to 49.5 million and the number of orders was down from 56.7 million to 55.2 million, but the average basket size was up from €57.30 to €60.40. Adjusted EBIT grew to €28.3 million, driven by lower fulfillment costs and improved inventory management.

Looking forward, Zalando expects its full-year revenue and gross merchandise volume to grow between 0% and 5% on last year. It will prioritise profitable growth and adjusted EBIT is expected to come between €380m and €450m.