Wednesday, 10 Mar 2021 11:14 PM MYT People walk by one of Zara's stores in central Madrid December 14, 2011. — Reuters pic Subscribe to our Telegram channel for the latest updates on news you need to know. MADRID, March 10 — Spanish textile giant Inditex, the owner of global fashion retailer Zara, said today its profits plunged in 2020 as enforced store closures due to the coronavirus pandemic hurt sales. The group, which also owns the Bershka and Massimo Dutti brands, recorded a net profit of €1.1 billion (RM5.3 billion) last year, a 70 per cent drop over 2019. Total sales were down 28 per cent from last year at €20.4 billion, as lockdown restrictions forced the closure of stores around the world.