• Inditex profit drops but sales recover over Q2

    1 month ago - By Fashion United

    Inditex generated a net profit of 671 million euros in the nine months of FY20 and 866 million euros in the third quarter, while Ebitda reached 1.85 billion euros in the quarter, down from 2.23 billion euros in the prior year. The company said in a statement that the sales trend continued to improve with sales declining by 14 percent or 10 percent in constant currencies in the third quarter, compared to reductions of 31 percent in the second quarter and 44 percent in the first quarter of 2020. Growth in online sales was 75 percent in constant currencies in the first nine months of the...
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  • H&M's Q4 net sales drop by 10 percent

    1 month ago - By Fashion United

    In the fourth quarter of 2020, the H&M group's net sales decreased by 10 percent in local currencies compared with the corresponding period last year. For the full financial year, the company said in a statement that net sales decreased by 18 percent in local currencies. Converted to SEK the group's net sales amounted to SEK 52,543 million Swedish krona compared to 61,694 million Swedish krona in the fourth quarter 2019, while for full-year 2020 net sales amounted to 187,025 million Swedish krona compared to 232,755 million Swedish krona.
    The company added that H&M group started the year...
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