Inditex (Zara): 2020 net profit plunges 70% due to pandemic to EUR 1.1bn

2021-03-10T07:23:09.486Z

Spanish clothing giant Inditex, owner of Zara, saw its net profit plummet 70% in 2020, to 1.1 billion euros, as sales plunged 28% due to store closures caused by the Covid-19 pandemic. Read also: Zara unveils a collection entirely dedicated to Valentine's Day On the other hand, internet sales climbed 77% over one year, at constant exchange rates, the group said in its report published on Wednesd