L Brands, a US based fashion retailer of women s intimate and other apparel, has posted 8.3 per cent sales decline to $11.8 billion in its complete fiscal 2020 ended on January.
A wide array of economic indicators point toward potentially record retail sales growth during 2021, but the coronavirus pandemic remains the biggest challenge for the year,.
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Pic: Shutterstock Gap Inc, a US-based specialty apparel company, has reported its financial results for the fourth quarter (Q4) FY20 ended on January 30, 2021. Sales during the quarter were down to $4.4 billion compared to the sales of $4.6 billion in the same quarter previous fiscal. Company’s net income during Q4 FY20 was $234 million (Q4 FY19: net loss $184 million). Online sales grew 49 per cent representing 46 per cent of net sales in Q4 FY20, which was an increase of 17 per cent compared to previous year. On the other hand, store sales declined 28 per cent in the quarter, with impacts from Covid and strategic closures noted above.
Walmart has announced a strengthened commitment to US jobs and communities, with a goal of investing $350 billion in the future of US manufacturing over the next 10 years..
Associated British Foods expects to incur a sales loss during store closures in 2021 first half at £1.1 billion. It expects Primark sales in the first half to be £2.2 billion.