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Zalando swings to profit in Q1

Zalando SE said its normalized net income for the first quarter amounted to 8 euro cents per share, compared with a loss of 8 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €19.1 million, compared with a loss of €17.9 million in the prior-year period.

The normalized profit margin rose to 3.0% from negative 3.6% in the year-earlier period.

Total revenue grew 28.5% on an annual basis to €643.6 million from €500.7 million, and total operating expenses grew 17.0% on an annual basis to €618.4 million from €528.7 million.

Reported net income totaled €25.2 million, or 10 cents per share, compared to a loss of €28.6 million, or a loss of 13 cents per share, in the prior-year period.