Inditex, the largest textile group in the world and owner of Zara,
has managed to return to profits in its second fiscal quarter
(which runs from May to July), after the historical losses registered in the previous quarter due to the impact of the pandemic and despite a 31% drop in sales in this last period, when most of the physical stores were not yet open.
Specifically, the company has earned 214 million euros, compared to losses of 409 million in the first quarter.
In the first six months, sales accumulate a decrease of 31%
In part of this last quarter the stores were not yet open, as they began to open widely in Spain at the beginning of June.
In May, 87% of the establishments were still closed.
Right now 98% is already operational.
The textile group thus closes these first six months with a negative result of 195 million euros.
Inditex highlights that it would have been positive, at 39 million, if the provision of 308 million that was made in the first quarter for advanced digital integration of stores were excluded.
In fact, proof of the weight that this channel has for the company is that online sales advanced 74% in these first six months and the group for the first time exceeded one million online orders in a single day.
Pablo Isla, president of Inditex, has expressed his "special satisfaction with the evolution of online sales, as it demonstrates the importance of our store and online integration strategy as an essential part of our business model".
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