World-renowned fashion brands lost more than 50% of sales during the pandemic.
One of the biggest fashion retailers and fast-fashion creators, H&M, released today its earnings report. Soon after the pandemic started the store’s sales fell by 50%.
Between March and May, the sales fell by 50%, even though some stores were still open. Since the beginning of the month until past Friday, the total sales decreased by 30% compared to the same time last year.
Online sales managed to compensate for the closing of physical stores, as they increased by 36%.
The data comes as the UK stores reopen in the UK. H&M started to resume its store activity since the end of April, and until now, only 900 are still closed.
During today’s trading session, the stock price fell by 0.31%.
Stay in the loop by accessing the latest news! See now on Capex.com!
Sources: marketwatch.com, essentialretail.com.
Gli utenti / lettori non dovrebbero fare affidamento esclusivamente sulle informazioni qui presentate e dovrebbero fare le proprie ricerche / analisi anche leggendo la ricerca reale sottostante. Il contenuto è generico e non tiene conto di circostanze personali individuali, esperienza di investimento o situazione finanziaria attuale.
Pertanto, Key Way Investments Ltd non accetta alcuna responsabilità per eventuali perdite di trader a causa dell'uso e del contenuto delle informazioni presentate nel presente documento. Le performance passate non sono un indicatore affidabile dei risultati futuri.
