Zalando Shares Plunge 17% Following Cautious Q2 2026 Outlook

Shares of Zalando SE fell 16.9% to $24.19 on August 4 after the company reported second-quarter 2026 financial results. While the company posted a group gross merchandise volume of €4,915 million and revenue of €3,424 million, pro-forma calculations excluding the acquisition of ABOUT YOU showed a slower growth trajectory, with GMV increasing 4.4% and revenue rising 1.1%.

Investors reacted negatively to a cautious growth outlook and specific weakness in the sneaker category. However, the company's B2B segment showed strong momentum, with adjusted EBIT increasing 257.7% to €41 million. This growth was driven by SCAYLE software revenues and increased efficiency in ZEOS Fulfilment.

To support long-term expansion, the company launched SCAYLE Studios to expand its AI capabilities. Co-CEO Robert Gentz described the slower quarter as a temporary setback in the company's broader strategy to capture a €500 billion European fashion market.