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Spanish company Inditex, which owns large chains of clothing stores, reported on the results of the fiscal year ended January 31. According to its accounts, net profit amounted to 3 billion 440 million euros, having increased over the year by 2%. EBIT of 4 billion 360 million euros increased by 1%. Experts had expected a more significant growth rate - up to 4 billion 410 million euros. During the earnings period, revenue grew by 3%, reaching 26 billion 150 million euros. At the same time, operating profit increased at the lowest rate in 5 years, rising by 1%. Sales growth was noted in both traditional and online stores. Comparable sales increased by 4%. Growth in sales in online stores was 27%. Their volume reached 3 billion 200 million euros. In the total revenue figure, the share of online sales was 12%.
Samsung Electronics Co Ltd looks forward to the second half of the year as it expects a larger increase in chip demand brought by new smartphone launches. However, the company warned that the coronavirus crisis and trade disputes carry risks. Samsung, ...
China’s industrial firms had seen an increase in profits for two consecutive months. This came as the most rapid pace ever recorded in over a year, suggesting that the country’s recuperation from the novel coronavirus pandemic ...
On Monday, world shares edged towards a five-month high and the U.S. dollar decreased in late trading as investors anticipated that the earnings season would see most companies beat revenue forecasts in light of the lifted coronavirus restrictions. The ...
New car registrations in the United Kingdom slipped by a third on an annual basis in June after several dealerships resumed operations amid loosening lockdown measures, preliminary data from an industry body. The drop is seen as relatively ...
Lufthansa’s Chief Executive Officer Carsten Spohr announced on Sunday that the company would seek to avoid grounding and insolvency before a showdown between the airline’s biggest shareholder and the German government over the ...
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