Fashion Retailer Mango Triples Net Profit to €67m (£56m) as Online Sales Soar

  • Mango reports highest profits in almost a decade with €67m net profit
  • Online sales grew by 23% to €942m (£791m)
  • Physical stores’ sales improved by 21.4% despite being closed for 48 days on average
  • International activity accounted for 79% of total business, Spanish market represented 21%
  • Mango now present in over 110 markets worldwide

Spanish fashion retailer Mango has reported its highest profits in almost a decade, with a net profit of €67 million (£56 million), triple the pre-pandemic figure of €21 million (£18 million) in 2019. The company’s turnover rose by 21.3% to €2.2 billion (£1.8 billion) in FY21, with online sales growing by 23% to €942 million (£791 million). Despite being closed for an average of 48 days during the year, physical store sales also improved by 21.4%. International activity accounted for 79% of the total business, while the Spanish market represented 21%. Mango CEO Toni Ruiz credits the team’s hard work and brand strength for the positive evolution and ability to face future challenges.

Factuality Level: 9
Factuality Justification: The article provides accurate information about Mango’s financial performance, including profits, turnover, online sales growth, and international presence. It also includes a quote from the CEO that adds context to the results.
Noise Level: 3
Noise Justification: The article provides relevant information about Mango’s financial performance and growth in online sales, but it lacks a deeper analysis or exploration of the factors contributing to these results and their implications for the fashion industry as a whole.
Financial Relevance: Yes
Financial Markets Impacted: Mango’s stock price may be impacted by these financial results.
Financial Rating Justification: The article discusses Mango’s financial performance and profitability, which can affect the company’s stock price and investor sentiment.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: No extreme events or crises mentioned in the article.

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