Coronavirus news and archive

OVS revenues jump compared to Q1 2020

Total sales at OVS in the first quarter amounted to 229.6 million euros, up 124 percent compared with the same period in 2020. When compared to the performance in 2019, value declined by 27.7 percent. The company said, the month of May benefited from a progressive strong increase in sales, with double-digit growth compared to 2019. Commenting on...

18 Jun 2021

Business

Dr. Martens first result as listed company reveals revenue and earnings growth

In a preliminary results release for the year to March 31, 2021, Dr. Martens plc said, the group delivered revenue of 773 million pounds, up 15 percent driven by ecommerce, where revenue was up 73 percent to represent 30 percent of mix. “I am pleased to be reporting our first results as a publicly listed company. I am very proud of the...

17 Jun 2021

Business

Chanel revenue fell 18 percent during 'highly disrupted' pandemic

Chanel on Tuesday said its revenue fell 18 percent to 10.1 billion dollars in 2020. The Paris-based luxury house said its business was “highly disrupted” due to store closures and suspension of international travel. Prior to global lockdowns, Chanel had a robust duty-free business, which instantly froze as tourism was halted. While the pandemic...

15 Jun 2021

Business

Boohoo posts 32 percent sales growth in the first quarter

For the three months to May 31, 2021, Boohoo Group plc reported revenue growth of 32 percent, with two year CAGR of 38 percent. Gross margin for the three months was 55 percent, in line with two years ago and down 60bps against a strong comparative in the first quarter last year. Commenting on the trading update, John Lyttle, the company’s CEO,...

15 Jun 2021

Business

H&M’s Q2 sales surge by 75 percent

In the second quarter 2021, the H&M group’s net sales increased by 75 percent in local currencies compared with the corresponding period last year. The company said in a release that as a result of the strengthening of the Swedish krona the increase was 62 percent converted to SEK and amounted to 46,509 million Swedish krona. The company added...

15 Jun 2021

Business

Lagging digitally, Ted Baker is reeling from a year of closed stores

Department stores, airport concessions and high street boutiques were once the strength of Ted Baker’s bottom line. But as the pandemic ravished the retail industry, companies like Ted Baker, without a solid digital first strategy, were the first to suffer. “If you set out to design a shop to do badly under coronavirus restrictions, you’d end up...

14 Jun 2021

Business

Covid-19 hits Ted Baker's full year results, loss widens

In a preliminary results announcement for the 53 weeks ended January 30, 2021, Ted Baker plc reported group revenue down 44.2 percent or down 44.1 percent in constant currency to 352 million pounds. This decline, the company said was driven by the ongoing impact of Covid restrictions on trading globally. The company’s underlying loss before tax...

14 Jun 2021

Business

Chico’s Q1 net loss contracts, sales up 38.4 percent

For the first quarter, Chico’s FAS Inc., reported a net loss of 8.9 million dollars or 8 cents loss per diluted share compared to a net loss of 178.3 million dollars or 1.55 dollars loss per diluted share, for last year’s first quarter. Net sales for the quarter were 388 million dollars, 38.4 percent increase. “Our first quarter results...

8 Jun 2021

Business

Wolverine Worldwide expects to report strong growth in Q2 sales

In an update on the second quarter results, Wolverine World Wide, Inc. has announced that its performance has accelerated in the quarter of the year, fuelled by the strength of its largest brands and compelling product innovation. “The Company continues to see strong momentum and better-than-expected trends across nearly all brands in the...

8 Jun 2021

Business

Lululemon Athletica reports 88 percent jump in Q1 sales

For the first quarter of 2021, net revenue at Lululemon Athletica increased 88 percent to 1.2 billion dollars, while on a constant dollar basis, net revenue increased 83 percent. Commenting on the first quarter trading, Calvin McDonald, company’s chief executive officer, stated: “Our first quarter results reflected strength across all drivers of...

4 Jun 2021

Business

Zumiez posts sales and profit gain

Zumiez Inc. reported net sales for the first quarter increased 102.6 percent to 279.1 million dollars, while compared to the first quarter ended May 4, 2019, net sales increased 31.1 percent. Net income was 26.4 million dollars or 1.03 dollars per diluted share compared to a net loss of 21.1 million dollars or 84 cents per diluted share, in the...

4 Jun 2021

Business

Tilly’s reports 111.1 percent increase in Q1 sales

Total net sales at Tilly’s Inc. were 163.2 million dollars, which represented an increase of 85.9 million dollars or 111.1 percent, compared to last year. Net sales from physical stores were 127.7 million dollars, an increase of 80.7 million dollars or 171.9 percent, while net sales from e-commerce were 35.5 million dollars, an increase of 5.1...

4 Jun 2021