Zara owner Inditex rebounds as most Covid-shuttered stores reopen
First quarter online sales surge 67%, also helping clothing brand recover from its first loss on record
09 June 2021 - 18:19
Inditex, the Spanish owner of the Zara clothing brand, rebounded from its first loss on record to post better-than-expected first-quarter earnings, as the easing of pandemic restrictions allowed it to reopen most shops.
Though Europe has been hit by the coldest spring since 2013, sales during both the first quarter, which covers February through to end-April, and in the first half of the second quarter were up, the company said in a statement. Sales in the first part of the second quarter were also up 5% relative to 2019, before the pandemic started...
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