Inditex, the textile group that owns chains such as Zara, Stradivarius or Massimo Dutti, closed
2020 with a profit of 1,100
million euros, 70% less compared to 3,639 a year earlier, after selling almost a third less (28% ) due to store restrictions or store closures due to the pandemic.
Group sales reached 20,402 million
euros in the fiscal year, which runs from February 2020 to January of this year.
The online channel grew 77% and already accounts for 6,600 million of this turnover, a third.
The group has decided to propose to the shareholders' meeting
the distribution of a dividend of 0.70 euros
per share (0.22 ordinary and 0.48, extraordinary), which will be paid half on May 3 and the other part, The 2nd of November.
The president of Inditex, Pablo Isla, highlighted that "Inditex comes out stronger in this difficult year thanks to the enormous commitment of the people who make up the company".
Turbulent year
This has been the most complicated year for the textile group, which, like the rest of the non-essential trade, had to close its stores from March to June and the rest of the time there have been capacity or schedule restrictions.
As a consequence, Inditex registered losses in the first half of 2020, returning to profit in the second and third.
The online channel has been one of the group's lifesavers, which has
an integrated inventory management system
that allows deliveries from the stores themselves (not from the warehouse).
Specifically, 46 million deliveries have been distributed from the establishments for a total amount of 1,155 million.
This, in part, has allowed the stock to be reduced by 9%.
The group has reduced operating expenses by 17% and has maintained the margin on sales (what it earns for each garment it sells), which is 55.8%.
Inditex has given figures for the start of this year.
with a 15% drop in sales from February 1 to 28, a
period in which 21% of stores have been closed.
Between March 1 and 7, where the percentage of stores closed was 15%, the decrease in sales was limited to 4%.
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