Zalando stock trades at EUR 21.64 as Q2 margin narrows

Published on 09/29/2026 at 11:47 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Zalando stock sees Q2 adjusted EBIT margin fall to 6.00 percent from 6.50 percent. The quote was EUR 21.64, minus 0.73 percent versus the Xetra close of EUR 21.80.

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Zalando (ISIN DE000ZAL1111) was trading at EUR 21.64 at Lang & Schwarz on September 29, 2026 at 11:40 a.m. CEST, or minus 0.73 percent versus the Xetra close of EUR 21.80 on September 28, 2026. The latest quarterly figures show profitable growth alongside pressure on the group margin.

Q2 growth meets margin pressure

In its Q2 2026 earnings call on August 4, 2026, Yahoo Finance reported adjusted EBIT of EUR 205.00 million, up 10.00 percent from the prior-year quarter. The adjusted EBIT margin narrowed to 6.00 percent from 6.50 percent as the consolidation of ABOUT YOU diluted profitability.

Revenue reached EUR 3.10 billion in Q2, while reported GMV increased 20.70 percent. Pro forma revenue declined 0.60 percent, showing the tension between Zalando's platform shift and near-term retail demand. B2B revenue provided a counterweight, rising 27.60 percent to EUR 335.00 million on a reported basis.

Guidance favors profit execution

For the first half of 2026, reported GMV grew 21.00 percent, revenue increased 22.20 percent and adjusted EBIT rose 16.10 percent to EUR 270.00 million, according to Yahoo Finance. Management narrowed full-year adjusted EBIT guidance to EUR 680.00 million to EUR 720.00 million and placed GMV and revenue growth in the lower half of the earlier 12.00 percent to 17.00 percent range.

The operating mix is changing quickly. B2B adjusted EBIT reached EUR 41.00 million in Q2, up from EUR 11.00 million a year earlier, while the B2B adjusted EBIT margin climbed to 12.20 percent from 4.30 percent. That comparison gives investors a concrete measure of why Zalando is emphasizing partner services and software even as consumer-facing margins absorb integration costs.

November brings the next test

Zalando is scheduled to report Q3 2026 results on November 3, 2026, Capital.com reported on September 23, 2026. The report will show whether the planned second-half improvement in logistics efficiency can offset softer sneaker demand and the lower margin profile of ABOUT YOU.

UBS maintained its Buy rating and a EUR 35.00 price target on September 16, 2026, according to finanzen.net. The unchanged target keeps attention on execution rather than a fresh target revision, with the Q3 report providing the next dated checkpoint.

Zalando stock stays in trading

Zalando stock was trading at EUR 21.64 at Lang & Schwarz on September 29, 2026 at 11:40 a.m. CEST. The price was minus 0.73 percent versus the Xetra close of EUR 21.80 on September 28, 2026, while the stock's 52-week range stood at EUR 18.61 to EUR 30.43.