According to Internet Retailing, the company is expecting a USD 2.2 billion loss of earnings due to the lockdown globally. Moreover, the retailer has seen sales drop by 43% in the US, while sales in China, where 99% of its shops were open by May, are still down by 21%. However, the company reported that despite this, the customers that are buying during lockdown and beyond are actually spending more.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now
We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the The Paypers website, they in no way represent the opinion of The Paypers.