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The Spanish fast fashion retailer reported 1.1 billion euros in annual profit.

invoiced the Group more than €4bn. Total invoicing by Spanish suppliers over the past five years stands at €24.4bn. Another highlight was the launch of volunteer initiatives with employees. These initiatives raised €1.4 million through solidarity projects in areas close to the headquarters. This amount also strengthened the collaboration with the charity Caritas, by supporting online training activities for vulnerable groups whose employment programmes had been suspended. Commitment to people throughout COVID-19 As soon as the effects of the pandemic began to be felt, the G...

Inditex, the group behind Zara, Bershka and more, recorded more than 25 per cent less in turnover last year. Net profit even plummeted by 70 per cent. It seems online growth does not yet outweigh the closed doors.

Zara owner Inditex forecast healthy sales as soon as lockdowns are lifted, after the coronavirus crisis knocked its net profit to 1.1 billion euros ($1.31 billion) in 2020, a drop of 70% on the previous year.

How Going Online-Only Is Saving Retail Brands From Going Under  Share   Share Trending Ecommerce has enjoyed the silver lining in the COVID-19 storm, but it’s a storm that sank many beloved, long-established retail brands. The ecommerce market is predicted to have grown by 16.5% by the time 2020 is complete, while fears of infection and government restrictions that shuttered brick and mortar stores pushed consumers away from in-store shopping and towards online purchases. The shift online is likely to persist. Once first-time online shoppers have learned how the process works and create...