UPDATE 2-Inditex ignited by post-lockdown clothing binge [Reuters]
Abercrombie & Fitch Company (ANF)
Last abercrombie & fitch company earnings: 3/4 07:30 am
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Source: Reuters
Spanish fast fashion giant Inditex (ITX.MC) said sales in May and so far in June were twice as high as in the same period last year as customers splashed out on post-lockdown shopping sprees. The strong sales for May 1 to June 6 for the owner of brands including Zara, Bershka and Stradivarius came despite stores operating with 10% less trading hours due to pandemic-related limitations. "Week after week we are seeing store traffic recovering," Chairman Pablo Isla said during a conference call, adding: "We are seeing a progressive recovery." The post-lockdown spike mirrored results from rivals including Next (NXT.L) and Abercrombie & Fitch Co. (ANF.N) , although some industry analysts have forecast that the uplift could be temporary as high savings rates may dampen spending. National statistics agencies data showed retail sales in Europe, China and the United States surged in March, but stalled in April as a burst of activity after the easing of restrictions was stymied by rising prices
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ANF
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