Zalando stock: B2B gains and AI expansion sharpen growth case
Published on 11/10/2026 at 18:17 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSWhat is driving Zalando's shares
- Zalando's third-quarter growth was led by a sharp increase in B2B revenue and adjusted EBIT.
- Zalando Extended will add products from other online shops, with AI-assisted checkout planned from 2027.
- Management maintained its full-year 2026 outlook and scheduled annual results for March 11, 2027.
Zalando's latest report has gained a fresh market reference as the stock moved above the prior report's quote while the company's B2B and AI initiatives continued to define the investment case. Zalando stock traded at 28.09 euros on Lang & Schwarz at 18:09 CET on Tuesday, November 10, 2026, 0.53 percent below the Xetra close of Tuesday, November 10, at 28.24 euros.
Compared with the 27.41-euro Lang & Schwarz quote in the previous report published on November 9 at 17:39, the stock was 2.48 percent higher. This separate comparison exceeds the movement threshold for a new main-value report and should not be confused with the same-day Xetra comparison.
B2B strengthens the earnings profile
In its official third-quarter release dated November 3, Zalando said group gross merchandise volume increased 7.5 percent year on year to 4.5 billion euros and revenue rose 5.1 percent to 3.2 billion euros. Adjusted EBIT advanced 10.6 percent to 107 million euros, while the adjusted EBIT margin widened to 3.4 percent.
The B2B division remained the clearest earnings driver. Revenue reached 354 million euros, up almost 28 percent year on year, while adjusted EBIT more than doubled to 42 million euros. The segment margin expanded to 11.9 percent from 7.1 percent, supported by logistics and software activities through ZEOS, Tradebyte and SCAYLE.
AI widens the platform opportunity
Zalando Extended adds products from online shops that Zalando does not sell itself. Westwing is the first pilot partner, and from 2027 Zalando expects its own AI agent to complete purchases inside the app. The model could expand partner reach and support additional retail-media revenue, although the company has not quantified its financial contribution.
Management confirmed its full-year 2026 guidance. Reported GMV and revenue growth are expected in the lower half of the 12 percent to 17 percent range, while adjusted EBIT is forecast at 680 million to 720 million euros. Zalando will publish its full-year 2026 results on March 11, 2027.
Zalando SE at a glance
- Company: Zalando SE
- ISIN: DE000ZAL1111
- Xetra ticker: ZAL.DE
- Lang & Schwarz quote: 28.09 euros on Tuesday, November 10, 2026, at 18:09 CET
- Change versus prior report: 2.48 percent above 27.41 euros on November 9, 2026
- Xetra close: 28.24 euros on Tuesday, November 10, 2026
- Change versus prior Xetra close: 3.03 percent from 27.41 euros on November 9, 2026
The DAX market backdrop remains the relevant German equity context for Zalando.
