German multinational Henkel has reached a record quarterly turnover of 5.14 billion euro, but higher prices for raw materials and adverse exchange rate effects have pushed expected profits down.
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Despite a 7 % turnover increase, Swedish fashion group Hennes & Mauritz was not able to meet its own first quarter forecast. At the same time, the launch of its new chain, ARKET, is approaching.
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Online market place Etsy, which focuses mainly on vintage and artisan products, is growing very fast: gross sales were up more than 22 % on the back of double digit growth for both active buyers and sellers.
In the past quarter, German Henkel - manufacturer of brands like Schwarzkopf, Persil and Pritt - sold more, although the negative impact of the exchange rates meant turnover ended up lower than last year. Luckily for Henkel, profit did increase.
In its past quarter, German fashion web shop Zalando performed very well once more. Turnover grew 25 % to 916 million euro and its gross profit tripled to 77 million euro, thanks to the mobile shoppers.
2016's summer of sports, including the European Championship football and the Olympic Games, have helped Adidas generate excellent turnover and profit numbers. CEO Herbert Hainer, who will resign shortly, even talks about a record year.
Henkel's first quarter profit and turnover both grew. The German manufacturer - which owns Persil, Schwarzkopf shampoo and Pattex glue among other things - took full advantage of the growing demand in several emerging markets.