Zalando SE said its first-quarter normalized net income amounted to 3 euro cents per share, compared with the S&P Capital IQ consensus estimate of 8 cents per share.

EPS declined 66.8% year over year from 8 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €6.4 million, a decline of 66.3% from €19.1 million in the prior-year period.

The normalized profit margin declined to 0.8% from 3.0% in the year-earlier period.

Total revenue climbed 23.7% on an annual basis to €796.1 million from €643.6 million, and total operating expenses climbed 26.1% year over year to €779.7 million from €618.4 million.

Reported net income declined 79.7% year over year to €5.1 million, or 2 cents per share, from €25.2 million, or 10 cents per share.