Advances in Economics, Management and Political Sciences

- The Open Access Proceedings Series for Conferences


Proceedings of the 2nd International Conference on Management Research and Economic Development

Series Vol. 88 , 10 June 2024


Open Access | Article

Impact from a Financial Perspective on Retailing, Luxury, and Technological Companies that COVID-19 Caused and How It Continues

Yuntong Yan * 1
1 University of Toronto Scarborough

* Author to whom correspondence should be addressed.

Advances in Economics, Management and Political Sciences, Vol. 88, 218-225
Published 10 June 2024. © 2023 The Author(s). Published by EWA Publishing
This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
Citation Yuntong Yan. Impact from a Financial Perspective on Retailing, Luxury, and Technological Companies that COVID-19 Caused and How It Continues . AEMPS (2024) Vol. 88: 218-225. DOI: 10.54254/2754-1169/88/20240883.

Abstract

In 2020, the whole society was hit by an unexpected virus -- COVID-19. The virus expanded fast and influenced all around the world. It changed the routine lives of people, and it affected the economy in some ways. The consumption habits of consumers were also affected. This paper will discuss three main industries --Retailing, Luxury, and Technology, and evaluate how COVID-19 impacted them, by choosing six companies from these three industries and importing Income Statements, Balance Sheets, and Cash flows from 2019, which before COVID-19, to 2022. In order to digging and support the effects, this paper chooses to use some financial metrics to evaluate different aspects. The metrics that I choose are Profitability Metrics, including Earnings Per share, and Sales Growth, Liquidity Metrics, which reflect the company’s ability to pay back its short-term liabilities. This article finds out that although COVID-19 influenced these industries from 2020 to 2021, they all demonstrated flexibility in facing the global crisis and led to growth after the pandemic.

Keywords

Financial Performance, Retail Industry, COVID-19, Luxury Sector, Technology Companies

References

1. Runfola, A., Milanesi, M., & Guercini, S. (2021). Rethinking interaction in social distancing times: implications for business-to-business companies. Journal of Business & Industrial Marketing, 36(13), 105-115.

2. Liu, H., Li, Y., Tsang, M., & Liu, Y. (2019, July). Costco: A neural tensor completion model for sparse tensors. In Proceedings of the 25th ACM SIGKDD International Conference on Knowledge Discovery & Data Mining (pp. 324-334).

3. Naseri, R. N. N. (2021). Issues And Challenges Of Online Shoppingactivities On The Impact Of Corona Pandemic: A Study On Malaysia Retail Industry. Turkish Journal of Computer and Mathematics Education (TURCOMAT), 12(10), 7682-7686.

4. Walton, S. (2020). History of Walmart. Made in America. Our format.

5. Mooney, J. P. (2021). COVID-19 and The Effects on the World's Most Admired Companies.

6. Inline XBRL Viewer. (n.d.). Www.sec.gov.https://www.sec.gov/ixviewer/ix.html?doc=/Archives/edgar/data/0000909832/000090983223000042/cost-20230903.htm

7. Inline XBRL Viewer. (n.d.). Www.sec.gov. Retrieved March 5, 2024, from https://www.sec.gov/ixviewer/ix.html?doc=/Archives/edgar/data/0000104169/000010416921000033/wmt-20210131.htm

8. Segal, E. (n.d.). How Walmart Is Responding To Covid-Related Challenges. Forbes. Retrieved March 6, 2024, from https://www.forbes.com/sites/edwardsegal/2021/09/01/how-covid-repeatedly-put-walmart-to-the test/?sh=474e5f4117bd

9. Shashi, Centobelli, P., Cerchione, R., & Mittal, A. (2021). Managing sustainability in the luxury industry to pursue circular economy strategies. Business Strategy and the Environment, 30(1), 432-462.

10. Donzé, P. Y., & Wubs, B. (2020). LVMH: Storytelling and organizing creativity in luxury and fashion. In European fashion (pp. 63-85). Manchester University Press.

11. LVMH, Financial Statement, Consolidated Financial Statement, December 31,2020. https://r.lvmh-static.com/uploads/2021/02/lvmh-2020-consolidated-financial-statement.pdf

12. LVMH, TRANSLATION OF THE FRENCH FINANCIAL DOCUMENTS FISCAL YEAR ENDED DECEMBER 31, 2022. https://r.lvmh-static.com/uploads/2023/01/lvmh_document-financier-2022_uk-final.pdf

13. Hermes, 2020 Universal registration document INCLUDING THE ANNUAL FINANCIAL REPORT https://assets-finance.hermes.com/s3fs-public/node/pdf_file/2021-04/1619702282/hermes-urd2020-en.pdf

14. Hermes, 2022 UNIVERSAL REGISTRATION DOCUMENT. Including the Annual Financial Report https://assets-finance.hermes.com/s3fs-public/node/pdf_file/2023-05/1684143348/hermes-urd-2022-en_01.pdf

15. Jiang, Y., & Stylos, N. (2021). Triggers of consumers' enhanced digital engagement and the role of digital technologies in transforming the retail ecosystem during the COVID-19 pandemic. Technological Forecasting and Social Change, 172, 121029

16. Inline XBRL Viewer. (n.d.). Www.sec.gov.https://www.sec.gov/ix?doc=/Archives/edgar/data/0000320193/000032019323000106/aapl-20230930.htm

17. Inline XBRL Viewer. (n.d.). Www.sec.gov.https://www.sec.gov/ix?doc=/Archives/edgar/data/0000320193/000032019320000096/aapl-20200926.htm

18. Alphabet EPS - Earnings per Share 2006-2019 | GOOG. (n.d.). Www.macrotrends.net.https://www.macrotrends.net/stocks/charts/GOOG/alphabet/eps-earnings-per-share-diluted

19. Inline XBRL Viewer. (n.d.). Www.sec.gov. https://www.sec.gov/ixviewer/ix.html?doc=/Archives/edgar/data/0001652044/000165204423000016/goog-20221231.htm

20. Inline XBRL Viewer. (n.d.). Www.sec.gov. Retrieved March 5, 2024, from https://www.sec.gov/ixviewer/ix.html?doc=/Archives/edgar/data/0001652044/000165204422000019/goog-20211231.htm

21. Brand, P. (2020, September 2). Google’s COVID-19 Tech Playbook. Purpose Brand. https://purposebrand.com/blog/business-tracker-alphabet-google-covid19/

Data Availability

The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.

This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License. Authors who publish this series agree to the following terms:

1. Authors retain copyright and grant the series right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgment of the work's authorship and initial publication in this series.

2. Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the series's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgment of its initial publication in this series.

3. Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See Open Access Instruction).

Volume Title
Proceedings of the 2nd International Conference on Management Research and Economic Development
ISBN (Print)
978-1-83558-471-2
ISBN (Online)
978-1-83558-472-9
Published Date
10 June 2024
Series
Advances in Economics, Management and Political Sciences
ISSN (Print)
2754-1169
ISSN (Online)
2754-1177
DOI
10.54254/2754-1169/88/20240883
Copyright
10 June 2024
Open Access
This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited

Copyright © 2023 EWA Publishing. Unless Otherwise Stated