Zara owner Inditex posts sales and profit fall in ‘challenging year’

By Grace Bowden2021-03-10T07:57:00

Zara parent Inditex reported strong sales during its first half of the year

Fashion giant Inditex’s executive chair Pablo Isla said the business has “emerged stronger” from the coronavirus pandemic despite suffering a slump in full-year profits.

Inditex posted a net profit of €1.1bn (£940m) in the year to January 31, down from €3.6bn the previous year.

The fashion titan, which posted its first ever quarterly loss during the financial year, attributed its return to profitability to the resilience of its ecommerce business, having delivered a €1.3bn net profit during the second half of the financial year.

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