Within the same 24 hours that Debenhams announces a further three U.K. stores currently closed due to the pandemic will not reopen, Zara owner Inditex announces results that whilst subdued, show resilience.
Their interim results (February 1st 2020 – April 30 2020) highlight:
- Net sales reached €3.3 billion v. €5.9 billion in the same period on 2019
- Online sales grew strongly at +50% in the same period. In April, online sales grew 95%.
Whilst over 3,500 stores still remain closed worldwide, Zara has relied on its online offer to satisfy shoppers.