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Mango hopes to exceed 2019 profit this year

  

Spanish clothing brand Mango expects to exceed 2019 profits this year. During the first six months of 2021, Mango has already achieved 21 per cent more turnover than in 2020, approaching 2019 levels. The company closed the months of May and June with sales above those of two years ago. Commercial margin also improved by 1.8 points compared to 2019, exceeding by 58 per cent. This increase is due to improvements to the collection, the proactive management of stock and fewer sales promotions.

Growth continues to be driven by Mango’s online channel, which remains on an upward trajectory. E-commerce closed this half year 37 per cent above the same period last year and 85 per cent above 2019. The online channel accounts for 46 per cent of total Mango turnover, four points higher than December 31 year end levels.

For its part, the network of physical stores was closed on an average almost 50 days during the first half of this year, especially affecting key markets for the multinational such as Germany, France, UK, Portugal and Turkey. There have also been considerable restrictions on opening and customer capacity in Spain, Mango's principal market in turnover terms.

 
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