Asos wants to raise more than 200 million pounds (230 million euros) with a new share issue, following the announcement of strong half-year figures. During the corona crisis, however, sales fell by almost 25 %.
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Stockpiling consumers have boosted Tesco's turnover by 30 %, but the coronavirus crisis also costs the British supermarket chain nearly a billion euros. The retailer was doing better last year, but now the coronavirus threatens to undo all that good work.
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Dutch-Belgian retail group Ahold Delhaize has had an excellent quarter, as corona-related stockpiling pushed its turnover 15 % higher. In March, American comparable growth was even 34 %.
In the first quarter of its financial year (up to 29 February), H&M doubled its profits and increased sales by 8 %. Good news then, until the coronavirus hit the world: in March, turnover was halved.
HelloFresh has increased its first quarter outlook: the meal box delivery company sees a huge increase in demand, as the corona crisis inspires more people to cook at home.
The coronavirus, and a new strategy with fewer Latin-American wholesalers, have forced Nike third quarter net profit down by 23 % (December to February). Turnover did go up 5 %, but the sports retailer fears a steep decline in the next quarter.
Spanish fashion group Inditex (Zara) has had a good run in 2019, but is now bracing for the corona crisis. The fashion giant has set aside 287 million euros for future damages and has already closed 3,785 stores worldwide.
Despite the coronavirus crisis, H&M recorded an increase in sales in the first quarter of the current fiscal year. In the second quarter, however, the fashion retailer expects to be heavily impacted by the spread of the virus throughout Europe.
Italian shoes and clothing brand Geox is going to close about eighty stores in the coming years, fifty of which are in Europe. Last year the Italian retailer’s net loss increased five-fold to almost 25 million euros.
Danish toy maker Lego wants to open 150 new stores this year, on the back of an uplifting profit and revenue growth last year. Despite the growth coming mainly from China, the Danish company sees no reason to be pessimistic about the coronavirus.
Chinese e-commerce giant JD.com has had an excellent 2019. Turnover grew 25 %, while losses were turned into full-year profits again as it managed to keep costs under control.
Luxury platform Farfetch achieved a turnover of more than a billion dollars in 2019, for the first time in its history. On the other side, its losses have increased considerably.
Fnac Darty's turnover rose slightly in 2019, as new activities were successfully integrated. The French electronics group remains cautious for 2020.
Belgian brewery group AB InBev did achieve volume growth in 2019, but its profit was lower than expected. The world's biggest brewery group is worried about the consequences of the corona crisis during the coming months.
In 2019, Zalando realised another major growth in turnover and profit, with the fourth quarter seeing particularly good results. In the next few years, the German webshop will focus more on luxury brands and second-hand clothing.
French retailer Carrefour says its transformation plan is working and raises its ambitions. CEO Alexandre Bompard says their focus will be on customer satisfaction this year: convenience and e-commerce should make sure the numbers keep going upwards.