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By Joshua Kirby
Industria de Diseno Textil SA said Wednesday that sales and earnings fell in 2020, but that e-commerce grew sharply and it will pay a dividend for the year.
Sales at the Spanish retailer came to 20.40 billion euros ($24.28 billion) in 2020, down 28% from 2019. Earnings before interest, taxes, depreciation and amortization were down 40% at EUR4.55 billion, while net income fell 70% to EUR1.11 billion.
The owner of Zara and other fashion brands said performance was affected by pandemic-related store closures, but that e-commerce sales boomed by 77% to reach EUR6.6 billion in the year. Online sales are expected to continue to grow strongly in 2021 and beyond, Inditex said. ....

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