Owners of Zara to close around 1200 stores

6/12/2020 11:36:00 PM

Zara owners to close 1200 stores

Fashion

Zara owners to close 1200 stores

The high street is set to reopen on the 15th of June but the landscape is set to look very different as Zara owners announce around 1200 store closures.

One of the world's largest fashion retailers, Inditex revealed a 44% sales fall after they had to close 88% of their stores on an international scale because of Covid-19.The fashion retailer also owns brands such as Massimo Dutti, Bershka and Pull and Bear, all of which have a strong high street presence.

dress, £49.99, ZaraAlthough sales were down and stores closed it isn't all bad news though for the fashion retailer.According to Inditex the first quarter of the year saw online sales rise by 50% with digital sales up 95% in April alone – a clear sign we are emerging from loungewear and starting to ponder our summer wardrobes.

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Zara owner to close up to 1,200 fashion stores around the worldInditex, which also owns Bershka, Pull and Bear and Massimo Dutti, says ‘headcount will remain stable’ Saves me a lot of time on my window shopping!

Zara owner to close up to 1,200 fashion stores around the worldInditex, which also owns Bershka, Pull and Bear and Massimo Dutti, says ‘headcount will remain stable’ Saves me a lot of time on my window shopping!

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Inditex the owners of Zara are said to close around 1200 stories worldwide according to The Guardian.explaining how it plans to boost the online presence of its brands.explaining how it plans to boost the online presence of its brands.will now only open 300, due to the acceleration of their store transformation strategy.

One of the world's largest fashion retailers, Inditex revealed a 44% sales fall after they had to close 88% of their stores on an international scale because of Covid-19. The fashion retailer also owns brands such as Massimo Dutti, Bershka and Pull and Bear, all of which have a strong high street presence. Read more The best offers in the summer fashion sales 2020 “Ultimately, Inditex plans to have a total network of between 6,700 and 6,900 stores, from 7,412 today, which will involve opening 450 new stores fitted with all the latest sales integration technology and absorbing between 1,000 and 1,200 smaller-sized stores,” the company stated. dress, £49. Inditex explained that these smaller-sized stores “account for 5 per cent to 6 per cent of total sales and are less well positioned to offer the new customer experiences”, adding that the majority of these shops “are older stores belonging to brands other than Zara”.99, Zara Although sales were down and stores closed it isn't all bad news though for the fashion retailer. The company plans on giving “a definitive boost to certain brands’ online sales platforms”, in particular, the Bershka, Pull and Bear and Stradivarius shops located in China and Japan. According to Inditex the first quarter of the year saw online sales rise by 50% with digital sales up 95% in April alone – a clear sign we are emerging from loungewear and starting to ponder our summer wardrobes. In April, Starbucks CEO Kevin Johnson, confirmed that “approximately 80 per cent of all customer orders were placed ‘on-the-go’ even prior to.

dress, £49. During the first quarter of 2020, between 1 February and 30 April, Inditex saw sales fall by 44 per cent, while 88 per cent of its stores remained closed. During the first quarter of 2020, between 1 February and 30 April, Inditex saw sales fall by 44 per cent, while 88 per cent of its stores remained closed.99, Zara This has led the brand to announce a strong digital focus, investing around one billion euros into their digital platform going forward as they expect a quarter of all their sales globally to be online by 2022 as the world adapts to a very different shopping future. The best places to buy lingerie online and why it’s important to keep wearing a bra as celebs shun them in lockdown View gallery Coronavirus has been devastating for the British high street with brands like Warehouse and Oasis full closing both stores and online during the Covid-19 outbreak. During the first quarter, the company recorded a net loss of €409m (£366m). dress, £19. “The company has decided to make a provision of €308 [£276m] million related to the execution of the Plan to boost online and further integrate the store platform,” Inditex stated.99, Zara And while many stores are set to reopen their doors on the 15th of June, it is not yet known how many shoppers will be itching to return to clothes shopping under tighter social distancing measures. The firm has said that “sales have been recovering gradually” as its stores have been reopened in the second quarter, “with certain markets such as China and South Korea and, in Europe, Germany, standing out”.

In fact in a new survey out today by Zurich-based tech company meepl of UK shoppers it has been revealed that 1 in 5 consumers don't plan on returning to shop for fashion on the high street, making online sales are more important than ever before. poll loading Do you plan to go back into fashion shops from June 15th? 500+ VOTES SO FAR Yes No Don't know t-shirt, £5.99, Zara According to Inditex the store closures are unlikely to affect Zara but will see the company close between 1000 and 1200 of it's smaller retailing spaces, that only account for five to six perfect of sales, with closures largely happening throughout Europe and Asia, although the UK's 107 stores are less likely to be affected. .