Monday , October 18 2021

European fashion companies live in a black Monday and fall 40%



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Inditex, Amancio Ortega, led by Zara, will drop by 3% and is the worst player of the Ibex 35 in Madrid.


Major European textile groups suffer from a collapse of 40% of Asosian British fashion after profits have declined.

The online company has cut its predictions since sales in November have been "due to the fall in estimates". The forecasts are the last of the companies that are diminishing. Before Sports Direct, Dixons Carphone and Bonmarche reported Reuters' reports.

Inditex, Amancio Ortega, led by Zara, will drop by 3% and is the worst player of the Ibex 35 in Madrid.

The German party, Zalando, fell 16.8%, now the biggest drop in Stoxx 600. Other competitors also suffer greatly. Sweden's H & M company lost 5.3% in the British Next and Mark & ​​Spencer fell by 4.2% and 2.4%.

Last week, Inditex shares have already suffered in the stock market. Indeed, the head of the textile giant had a drop of 4.8% at the end of the day, as it posted the results of the first nine months of the year, with an increase of 4% in profit and 2,438. Millions of euros, reports Five Days.

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