Zalando SE

Germany's financial regulator BaFin has launched a formal audit of Zalando's 2025 consolidated accounts after identifying concrete indications of possible omissions related to the acquisition of About You. The examination began on 19 June under the German Securities Trading Act and uses BaFin's own auditors to review whether information connected to a transaction involving a related entity was wrongly left out of the notes to the financial statements for the year ended 31 December 2025. BaFin stressed that the start of the audit and its public disclosure do not confirm any error or indicate that accounting inaccuracies are likely. Zalando called the matter a purely formal and materially immaterial aspect of the notes, noting that all relevant information about the acquisition was already fully publicly available as part of the public takeover offer. The audit follows Zalando's fiscal 2025 results, which came in at the top end of guidance with gross merchandise volume of €17.6 billion and revenue of €12.3 billion.

The DAX fell 231 points, or 0.93 percent, to 24,763 on Friday, reversing the previous session's 1 percent rally. Infineon Technologies tumbled 3.6 percent amid uncertainty in the global technology sector, while automakers BMW and Mercedes Benz each fell around 1 percent. Online fashion retailer Zalando plunged 5.2 percent after Germany's financial regulator BaFin launched an investigation into the company's 2025 financial statements, alleging a transaction related to the acquisitions of About You might have been omitted.