On November 4, 2026, Zalando is trading at €26.37, up +4.27%; the rebound may reflect investors balancing mixed results against confirmed 2026 guidance and constructive bank ratings, though reports do not establish a definitive cause. - November 3 results were mixed: revenue rose 5.1% and GMV 7.5%, while gross margin fell to 38.7%, below expectations. - The margin miss and an €18 million net loss weighed on shares in the prior session.