Spanish textile titan Inditex, owner of global fashion retailer Zara, said on Wednesday, September 16, that it swung back into profit in the 2nd quarter as it reopened most of its stores following virus shutdowns and enjoyed strong online sales.
Inditex, which runs its business year from February to January, had booked a loss of 409 million euros in the previous quarter when it was forced to close over 90% of its 7,000 shops around the world due to COVID-19 lockdown measures. Inditex said 98% of its stores had reopened and that the"3rd quarter continues to see a progressive return to normality, with online sales growing sharply and store sales recovering gradually."
Incredible claim 😲
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