On June 26, Zalando's shares fell about 7% after Germany's financial regulator BaFin opened a formal review of the company's 2025 financial statements. The investigation focuses on Zalando's €1.2 billion acquisition of ABOUT YOU in 2025, with BaFin citing potential failure to disclose required information about a related-party transaction in financial notes. Zalando described the issue as 'purely formal and materially insignificant' and is in dialogue with BaFin. The stock dropped up to 8% intraday before closing near €24.72. The review comes amid a challenging period for Zalando, which reported a net loss of €87.6 million in Q1 2026 due to acquisition and restructuring costs, though revenue rose 23.8% to €2.99 billion. BaFin stated the review does not imply wrongdoing, and results will be published upon completion.

Key facts

• Zalando shares dropped 7% after BaFin opened a formal review of 2025 financial statements.
• Review concerns disclosure of a related-party transaction in the €1.2 billion ABOUT YOU acquisition.
• Zalando called the issue 'purely formal and materially insignificant' and is cooperating with BaFin.
• Stock fell up to 8% intraday before closing near €24.72.
• Q1 2026 net loss of €87.6 million, but revenue rose 23.8%.
• BaFin says review does not imply wrongdoing.