adv-06 adv-06

Inditex returned to quarterly profit amid a 31% drop in revenue

adv-07

inditex-logo-1In the period from May to July, Inditex returned to quarterly profit amid a 31% drop in revenue as market demand in central business districts was held back by the coronavirus crisis. Inditex, also owned by Massimo Dutti and Bershka brands, said it had reopened 98 percent of its stores and that existing trading was steadily returning to normal as internet sales were rising sharply and store profits were growing.

Inditex posted a net profit in the second quarter of €214 million ( $253 million) against the average prediction of €96 million in SmartEstimate, weighted by more recent forecasts and higher-ranking analysts. In the first half, online purchases rose 74 percent, the rise in clothing retailers around the world, with home shoppers shopping with many shops closing and limited travel.