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RACHEL VILLAÉCIJA
Madrid
Thursday, June 11, 2020 - 10:51
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- Business. Inditex records historical losses of 409 million from Covid
Inditex, the world's largest textile company and owner of brands such as Zara, Massimo Dutti and Stradivarius, is going to refine its sophisticated digitization structure and will also accelerate the modernization process of its stores to face this new stage after the coronavirus pandemic It has led them to have losses for the first time since it went public in 2001. In the first quarter, just in full confinement, the fashion chain lost 175 million euros, after falling sales by 44% (3,303 million). This unprecedented collapse in the history of the group was motivated by the closure of 88% of the stores it has around the world.
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