10 months ago

The world’s largest fashion group – on the verge of ruin

10 months ago

Fashion company Inditex, which owns Zara and other popular brands, reported a net loss of $ 465 million for the period from February to April.

Last year, over the same period, a network of fashion brands earned about $ 700 million. Sales fell to $ 3.5 billion – twice as compared to 2019.

In late April, Inditex reopened 965 stores in 27 countries, including the United States, but there are no forecasts as to whether the chain will be able to survive the crisis amid a pandemic.

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