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The largest clothing retail chain in Europe, the Swedish company Hennes&Mauritz reported the results of the first fiscal quarter ended February 28. The quarterly report showed that its net profit declined annually by 41% to 803 million Swedish kronor. The decline was due to a one-time income of 399 million kronor in the first quarter due to tax reform in the United States. The quarterly pre-tax profit fell to a minimum in 18 years - 1 million 40 thousand kronor, despite the fact that, according to analysts, a more significant drop was expected - to 678 million kronor. The revenue indicator, which does not take into account value added tax, amounted to 51 billion 15 million kronor, having increased over the year by 10.5%. Sales growth was noted in all regions. Most sales increased in India - by 42%.
On Friday, Caterpillar Inc (CAT.N) announced a lower second-quarter profit because of the recession caused by the coronavirus outbreak. The decline was due to lower sales volume and changes in dealer inventories. During the second quarter ...
On Thursday, the United States’ Gross Domestic Product (GDP) suffered the biggest economic decline in the second quarter as the surge of coronavirus cases affected the whole country. The U.S. government decided to shut down restaurants, ...
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, ...
The second quarter had seen Australian consumer prices dropping by a record. This could be attributed to the coronavirus crisis dragging child care cost and petroleum prices, inflicting a serious damage to years of growth toward higher inflation. Last ...
Spain’s unemployment rose to 15.33% for the second quarter of 2020, according to Tuesday’s data from the National Statistics Institute amid the worsening COVID-19 situation in the country. The unemployment rate surged past the ...
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