Net income attributable to shareholders plunged to €31 million ($34 mm) from €632 million on a 19% decline in revenue to €4,753 million ($5,235 mm) from €5,883 million for the first quarter ended Mar. 31 as massive store closures from the pandemic hit first China and then the rest of the world. Even more pain is expected in Q2 when a slow recovery in China will be overwhelmed by the retail closures in North America and Europe and a loss is expected with a more than 40% decline in sales, but it sees a more normal number of retail stores ... Log in to view full article.