European fashion companies live on Black Monday and fall as much as 40%



[ad_1]

Inditex, the holding company of Amâncio Ortega, which controls Zara, fell 3% and is the worst of the Ibex 35 in Madrid.


Europe's major textile groups are suffering sharp declines at this time affected by the 40% collapse of British fashion company Asos, after revising its profit forecasts downwards.

The online fashion company cuts its forecasts, as sales in November were "significantly below estimates." It is the last of several companies that have been reducing forecasts. Before they were Sports Direct, Dixons Carphone and Bonmarche, Reuters reports.

Inditex, the holding company of Amâncio Ortega, which controls Zara, fell 3% and is the worst of the Ibex 35 in Madrid.

Shares of German rival Zalando plummeted 16.8 percent, the biggest fall of the Stoxx 600 today. Other competitors also suffer heavy cuts. The Swedish company H & M lost 5.3%, while Britain's Next and Mark & ​​Spencer respectively fell 4.2% and 2.4%

Last Tuesday, Inditex shares have already suffered in the stock market. Specifically, textile giant shares fell by 4.8% at the close of the day they posted results for the first nine months of their fiscal year with a 4% increase in net profit to 2,438. million euros, reports Cinco Días.

[ad_2]

Source link