Zara owner reports recovery as online sales grow and stores improve

Fashion giant Inditex, which owns Zara, celebrated a “strong recovery in operations” during its third quarter ahead of more lockdowns in various countries.

Inditex reported a 76% online sales uplift in the period to October 31 and said that store sales were improving “progressively”. 

Net sales came in at €6.1bn (£5.5bn), a 10% decline in constant currency.

Inditex said such sales “reached the historic highs of the same period in 2019” between October 1 and 18. From that date a new raft of closures and restrictions to combat the Covid pandemic were introduced in various markets.

 

Source: https://www.retail-week.com/