Despite the situation generated by the pandemic, Inditex, the textile group that owns chains such as Zara, Berskha or Massimo Dutti, has managed to leave behind the losses registered in the first wave of the pandemic and reduce the drop in sales.

The Galician group obtained a profit of 671 million euros in the first nine months of the year (until October) and 866 million in the third quarter, despite having part of the stores closed due to restrictions to contain the second wave of the pandemic.

In the first quarter it had registered, for the first time in its history, losses of 195 million euros.

This is what the company points out, which on

Tuesday presented its results for the third fiscal quarter.

Specifically, sales in this period reached 14,085 million, compared to 19,820 the previous year.

In this period, the drop in sales caused by the restrictions derived from the pandemic has been reduced.

This collapse was 44% in the first quarter (which coincided with the months of confinement), it was reduced to 31% in the second (in the middle of summer), while in the third only 14% less was sold compared to the year previous.

Online sales continue to be one of the pillars of the textile giant, with growth of 75% in these first nine months and at a similar rate in the third quarter.

"These results are a direct consequence of very efficient management in all areas of the company and the daily capacity to react and adapt to an environment that is difficult to foresee," said Pablo Isla, president of the group.

In November, with 21% of stores closed and new limitations on openings, capacity and hours, sales represented 81% of the previous year, while from December 1 to 10 they reached 87%.

Currently, 8% of the stores are closed and an additional 10% are closed during the weekend.

According to the criteria of The Trust Project

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  • Inditex Group

  • Zara

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