Zalando shares face pressure despite strong B2B growth

Zalando shares fell approximately 4.92 percent on November 6, 2026, following the release of third-quarter financial results. Despite the stock price decline, the company reported a 5.1 percent increase in revenue to 3.17 billion euros and a 10.6 percent rise in adjusted EBIT to 106.5 million euros.

A significant driver of these results was the business-to-business (B2B) segment, which saw revenue grow by nearly 28 percent to 354.4 million euros. The B2B adjusted EBIT more than doubled to 42.2 million euros, with margins increasing from 7.1 to 11.9 percent. This growth helped offset a decline in the business-to-consumer (B2C) segment, where adjusted EBIT fell to 64.4 million euros from 76.6 million euros in the previous year.

Strategically, Zalando is transitioning toward a platform model. Through the Zalando Extended initiative, the company aims to make products from other online shops discoverable within its app. Additionally, the company plans to introduce an artificial intelligence-based digital assistant to handle transactions for users. Management has reaffirmed its annual targets, anticipating solid development in revenue and earnings for the full year.