Zalando SE said its third-quarter normalized net income came to a loss of €21.3 million, compared with a loss of €1.1 million in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin fell to negative 3.0% from negative 0.2% in the year-earlier period.

Total revenue increased 42.2% year over year to €713.1 million from €501.4 million, and total operating expenses climbed 47.1% on an annual basis to €741.0 million from €503.9 million.

Reported net income came to a loss of €29.6 million, or a loss of 12 cents per share, compared to a loss of €500,000, or a loss of 0 cents per share, in the year-earlier period.