Almost every day, there is news in the fashion industry about losses and even closures due to the impact of the epidemic, and today’s protagonist is everyone’s favorite and most supported Zara!
The parent company of Zara, the Inditex Group, recently announced its first-quarter financial report for this year, with a decrease in group sales of 2.6 billion euros compared to the same period last year, resulting in an overall loss of 409 million euros. In order to align with the development of online sales business, it will permanently close as many as 1,200 physical stores globally, accounting for 16% of the total!
However, the group remains optimistic about the future. With the easing of the epidemic, there are signs of a gradual recovery in sales in early June. Looking forward to the end of the epidemic, everything will return to the initial prosperity!
