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Article Date: September 2020
Word Count: 1427

Industry Swings to $1.6 Billion Loss in Second Quarter

In what was the most tumultuous period since we’ve been tracking industry results, the aggregate net loss was $1,580 million in the second quarter against a profit of $2,687 million last year, on total revenues that plunged 24% to $31,828 million from $41,858 million. The Covid-19 pandemic dominated the industry, but some sectors and companies managed to thrive while others were staggered by the sudden shifts it caused in the marketplace. Aggregate return on sales was -5.0% against 6.4%, with a huge loss from the apparel segment and a more modest decline in the important footwear segment swamping positive profits ... Log in to view full article.


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