Mind Retail analysed the financial results of the 12 largest fashion retailers between 2019 and 2022, to understand performance in terms of sales and profitability. As a result of the multiple crisis factors of recent years, omnichannel retailers such as Inditex, Nike and Fast Retailing are the most profitable. Discounters such as TJX are also doing well in an inflationary environment. E-tailers are facing the limits of their 100% digital model, while returns rates are undermining their business model.
After analysing the financial health of the world’s 10 largest food retailers, mind Retail has compiled the key figures from the annual reports of the 12 largest fashion retailers since 2019. We report turnover, turnover growth, share of online sales, operating margin, net margin and headcount (see methodology). The fashion industry is one of the largest in the world, with US$1,530 billion of sales in 2022. Over the past 3 years, however, it has undergone major changes, including digital sales,
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