Zalando stock gains as B2B profit more than doubles in Q3

Published on 11/04/2026 at 11:45 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Zalando stock gains as strong B2B growth drives higher quarterly profit. The company keeps its full-year outlook unchanged after a solid third quarter.

B2B growth lifts profitability

Third-quarter revenue rose 5.1 percent year on year, while adjusted EBIT increased 10.6 percent.
B2B revenue climbed almost 28 percent and adjusted EBIT more than doubled to 42 million euros.
Zalando kept its 2026 outlook and will publish full-year results on March 11, 2027.

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Zalando reported profitable growth in the third quarter on November 3, with its business-to-business operations providing the strongest earnings momentum. According to the Zalando Corporate release, group revenue increased 5.1 percent year on year to 3.17 billion euros, while gross merchandise volume rose 7.5 percent to 4.54 billion euros.

Adjusted EBIT rose 10.6 percent to 106.5 million euros, lifting the adjusted EBIT margin to 3.4 percent from 3.2 percent a year earlier. Zalando attributed the improvement to lower fulfilment costs, synergies from the ABOUT YOU integration and the expansion of B2B operations. Integration synergies reached the mid-teens millions of euros in the quarter.

B2B expansion changes the earnings mix

B2B revenue reached 354.4 million euros, up almost 28 percent from the prior-year quarter. Adjusted EBIT more than doubled to 42.2 million euros from 19.6 million euros, while the division's adjusted EBIT margin widened to 11.9 percent from 7.1 percent.

The business includes ZEOS, Tradebyte and SCAYLE, which provide logistics, marketplace connectivity, software and other services to brands and retailers. Zalando said SCAYLE added enterprise customers in the United States and United Kingdom, while ZEOS Fulfilment secured customers including Lascana, LC Waikiki and Champion.

Consumer operations grew more slowly. B2C revenue increased 2.8 percent to 2.83 billion euros, while B2C adjusted EBIT fell to 64.4 million euros from 76.6 million euros. Zalando said the wider platform strategy also supported double-digit growth in partner business and retail media.

Active customers reached 63.2 million over the last twelve months, an increase of 2.9 percent. The company also introduced Zalando Extended, which brings products from other online shops onto its platform. Zalando plans to let its own AI agent complete purchases on behalf of customers from 2027, beginning with a pilot involving Westwing products.

Guidance remains unchanged

Zalando confirmed its full-year 2026 outlook. On a reported basis, it expects gross merchandise volume and revenue growth in the lower half of a 12 percent to 17 percent range. Adjusted EBIT is still expected at 680 million euros to 720 million euros, with capital expenditure of 240 million euros to 300 million euros and negative net working capital.

Zalando stock traded at 26.09 euros on Lang & Schwarz at 11:37 CET on Wednesday, November 4, 3.16 percent above the Xetra close of Tuesday, November 3. Investors are now focused on execution during the Cyber Week and Christmas trading period, which will provide the next test for consumer demand and margin performance.

For the latest trading level, see the real-time quote of Zalando stock.