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.
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