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Samsung first-quarter profit likely surged 45 per cent on bumper smartphone, appliance sales

MONEY & CAREERS
By Reuters | April 5th 2021
Samsung Electronics Co Ltd likely saw a 45 per cent jump in profit for January-March on robust sales of smartphones, TVs and home appliances, though chip division earnings are seen tumbling after a storm suspended production at its U.S. plant.
Spending more time at home due to the coronavirus pandemic, consumers have splashed out on an array of high-margin consumer electronics which in turn has helped cause a global shortage of semiconductors.
Operating profit for the South Korean tech giant in the quarter is expected to have climbed to 9.3 trillion won ($8.2 billion), according to a Refinitiv SmartEstimate drawn from 16 analysts. SmartEstimates assign more weight to forecasts from consistently accurate analysts. ....

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H&M sales pick up in March as some markets allow stores to reopen : CityAM

England will allow non-essential retailers to open from 12 April at the earliest.
The Swedish fashion retailer also said sales in the three months to the end of February had fallen slightly less than expected.
Net sales fell 27 per cent compared to the previous year to 40.1bn crowns, less than the 30 per cent drop predicted by Refinitiv Smart Estimate.
“Sales development was significantly affected by the Covid-19 situation, with extensive restrictions and at most over 1,800 stores temporarily closed,” H&M, which is the world’s second largest fashion retailer after Zara owner Inditex, said in a statement.
“Since the beginning of February, a number of markets have gradually allowed stores to reopen and at the end of the quarter around 1,300 stores remained temporarily closed,” it said, adding that online sales had continued to develop very well. ....

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SoftBank posts Q3 profit gain as Vision Fund rallies - The Hindu BusinessLine

That’s a sea change from a year earlier when the flop IPO of WeWork and Covid-19 forced CEO Masayoshi Son to sell some assets ....

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