Hering’s profit falls 89% with store closings

Fashion retailer Hering saw nearly a 90 percent drop in first quarter earnings, directly affected by the social isolation measures taken in mid-March in the country to try to contain the coronavirus pandemic. The company reported that its profit for the period amounted to R$ 5 million ($ 1 million), down 89.2% from the same stage of 2019.

Source: Money Times