Burberry is going to cut 500 jobs, 150 of which in its British headquarters. Along with other measures, this should save the luxury brand 60 million euros annually.
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A strong second quarter has led Zalando to increase its forecasts to a full-year sales growth of 15 to 20 %. The German webshop was helped by the coronavirus pandemic, which forced a lot of people to shop online.
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The lockdown measures against the coronavirus proved to be a blessing for meal supplier HelloFresh: in the second quarter just as in the first, demand for meal boxes increased sharply.
Dutch supermarket chain Jumbo saw a 14 % turnover growth in the first six months of 2020, exceeding market growth of 8.5 %. Online sales exploded, but progress in Belgium was slower than expected and the La Place restaurants seem to be in a bit of a pickle.
PepsiCo saw its turnover drop 3.1 % in the three months until 13 June, but took heart from the encouraging sales growth of its cereals.
American luxury group Capri (Jimmy Choo, Michael Kors, Versace) fears a 70% loss of sales due to the corona pandemic. The group will therefore close 170 stores over the next two years.
Primark has lost almost 900 million euros to the coronavirus crisis: the Irish fashion discounter now expects its full-year profit will drop by almost 70 %.
Sainsbury's, the second largest supermarket chain in the United Kingdom, had a strong 'Covid quarter': in the midst of the corona crisis, its turnover rose sharply as online sales more than doubled.
Swedish fashion chain H&M recorded a net quarterly loss for the first time in decades: sales halved as a result of the lockdowns and price cuts put pressure on margins.
The coronavirus crisis hit Nike hard, with the sportswear brand suffering an unexpected net loss and a 38 % drop in sales in the last quarter. The reason for the net loss is the expensiveness of e-commerce, apparently.
Belgian shoe store chain Torfs achieved a turnover increase in 2019, but higher costs meant that profit dropped to almost zero - and that was before the Covid-lockdown that cost the chain 22 million euros in sales.
The corona crisis did Colruyt Group no good: the supermarkets lost market share in the second half of the year and during the lockdown. Sales growth over the financial year 2019/20 remained below expectations.
The annual results finally published by Belgian fashion group FNG raise more questions than they answer: despite admitting to "dubious" affairs, no one is talking... Even the new CEO Yves Pollé seems to have something to hide.
Belgian fashion group FNG has had an abysmal 2019, and the Covid-ridden 2020 promises to be even worse. A tough recovery plan seems highly necessary.
The coronavirus crisis has hit Inditex hard: the Spanish fashion group's quarterly turnover was halved, while profits ended below zero for the first time ever. To make matters worse, recovery is going slower than expected: only in China and Korea has the situation returned to normal.
In its financial year 2019, Spar International achieved a worldwide turnover of 37.1 billion euros (+ 4.35 %). During the corona crisis, the proximity stores proved to be of vital importance.