H&M, the world’s second-largest style retailer, is owing to report gross sales for the December-February period, its fiscal first quarter, on March 15. Analysts on regular forecast a 28% fall in web gross sales from a year back, in accordance to Refinitiv SmartEstimate.
Most significant rival Inditex, the proprietor of Zara, on Wednesday forecast a return to healthier gross sales as shortly as lockdowns are lifted, as it reported a 70% slide in gain for its fiscal year by means of January.
Inditex predicted all its outlets would be open up by mid-April. All-around 15% of its retailers keep on being temporarily shut.
H&M, whose whole first-quarter earnings report is owing on March 31, is bracing for a reduction in the period just after the pandemic slashed 2020 earnings by 88%.