Spanish fashion chain Mango expects to exceed its pre-pandemic 2019 sales this year, as its half-year figures easily defeated analysts’ expectations.
Largest growth online
In the first six months of this year, Mango’s revenues rose by 21 % compared to the same period last year. Sales were particularly strong in May and June, with figures at pre-pandemic levels.
The Spanish retailer has been investing heavily in the expansion of its online channel for years, so it comes as no surprise that the company is executing its biggest progress in that area: online sales rose again by 37 % during the first half of the year. Compared to two years ago, growth is even 85 %. Mango already achieves 46 % of its revenues through e-commerce and reiterated its earlier goal of breaking the symbolic one billion euros barrier in online sales this year.
CEO Toni Ruiz said that the results make him optimistic about the remainder of the year. Hence, he is counting on annual sales exceeding the 2019 level – which was 2.3 billion euros, FashionUnited writes.
