Profit down at Zalando in second quarter, hopes for improvement ahead

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German online fashion retailer Zalando SE has seen a significant drop in profit year-on-year in the second quarter. Zalando posted a net income of €14 million ($14.25 million) in the second quarter, down from €120.4 million in the previous year. The company expects improved profitability and a return to growth in the second half of the year, confirming its outlook for the full year. The company’s gross merchandise volume in the second quarter of 2022 came in at €3.8 billion, showing a flat development, compared to an extraordinarily strong second quarter 2021. Revenue fell by 4% to €2.6 billio…

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