Browse Tag

generating a net profit of Euro 671million in the nine months of FY20

Inditex delivers Euro 866 million net profit in the third quarter, and reaches historic net cash position

18 mins read

The FINANCIAL -- According to Inditex, the company has managed to turn around the impact caused by the Covid-19 pandemic, generating a net profit of Euro 671million in the nine months of FY20, Euro 866 million in the third quarter. Despite 5% of the stores closed in 3Q and ongoing trading restrictions affecting 88% of the store network, the sales trend has continued to improve: sales declined by 14% (10% in cunstant currencies) in 3Q20, compared to reductions of 31% in 2Q20 and 44% in 1Q20.…

Read More »

Inditex delivers Euro 866 million net profit in the third quarter, and reaches historic net cash position

18 mins read

The FINANCIAL -- According to Inditex, the company has managed to turn around the impact caused by the Covid-19 pandemic, generating a net profit of Euro 671million in the nine months of FY20, Euro 866 million in the third quarter. Despite 5% of the stores closed in 3Q and ongoing trading restrictions affecting 88% of…