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the company has managed to turn around the impact caused by the Covid-19 pandemic

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.…

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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…