The Coronavirus continues to impact store performance, however Inditex has reported that their online sales remain strong, with a 75 per cent growth in the first nine months of the year.
The multi-national fashion company has continued to see a steady growth in performance throughout the Coronavirus pandemic. The company has reported that the third quarter has seen sales decline by 14 per cent compared to a decline of 31 per cent in the second quarter and 44 per cent in Quarter 1.
The company has recorded sales of €14.1bn in the first nine months of FY20 in comparison to €19.8bn in the same period last year.
Pablo Isla, Inditex’s Executive Chairman remains positive about the group’s performance and has noted that “these results are the direct consequence of effective management in every area of the company, with a seamless co-ordination between each link in the business model: design, product, manufacturing, logistics, stores and online.”
Around 8 per cent of the group’s stores remain closed as a result of Coronavirus-induced lockdowns across the world.
