Mango 2020 in-store turnover falls 43%
However, the group’s ecommerce turnover increased by 36% during the same period
Fashion, footwear, and accessories retailer Mango has announced turnover for FY20 of £1.58bn, as the performance of its in-store and online channels offset one another.
While the groups’ bricks and mortar stores saw a 43% year-on-year decline to turnover, its online channels grew 36% to £656m.
The figures represent an almost doubling (24% to 42%) in the size of Mango’s online operations in respect to its total annual turnover.
Toni Ruiz, CEO at the company, said: “We have experienced an absolutely exceptional and unpredictable year for everybody.
“Thanks to the major commitment Mango has made to its online channel over the last 20 years, we have succeeded in it representing 42% of our total turnover in 2020, which is an extraordinary figure in our sector and a huge competitive advantage for our company.”
While based in Spain, the group’s international activity, spread across 85 global countries, totalled 79% of its 2020 turnover.
Rather than providing quarterly information, Mango split 2020 in four different sections, with sales growing 8% in the pre-lockdown quarter of January and February.
The second part included the first wave of Covid-19, with total income at Mango cut in half between March and June.
Turnover returned to near 2019 levels from July to October, with a year-on-year fall of 6% in October, while store closures in the final two months of 2020 were reportedly offset by “major increases” to sales as a result of Black Friday and Christmas.
