Zara owner Inditex’s quarterly profit jumps 80% on post-Covid wardrobe renewals -Breaking
MADRID (Reuters), – Zara, the fashion giant is now owned by Madrid Inditex (BME) announced Wednesday that its February-April net profit jumped by 80% to $760 million ($812.06m), which was in line with analyst expectations, as pre-pandemic sales exceeded those of the company.
World’s top fast fashion retailer sold 6.7 Billion Euros in sales, which is 36% more than the year before.
Inditex posted a profit (of 734,000,000 euros) and sales (5.93 billion euros in the 2019 period before the coronavirus epidemic struck.
($1 = 0.9359 euros)