Subtitles section Play video Print subtitles Zara owner Inditex says 2020 profits slumped nearly 70% to just over $1.3 billion. That was a steeper fall than forecast, with the firm hit by global lockdowns and weak demand. Those sales have rebounded. In China, lockdowns persist in much of Europe and the US Inditex says around 15% of its stores were still shut as of early March. A surge in online sales offered some compensation. The world's biggest clothing retailer has also trimmed its inventory and got rid of some stores. 751 shops have already gone out of a targeted 1200. The company is focusing on flagship locations where it can serve both online and in person customers. Inditex may also take some comfort from results at arch rival H and M.
B1 zara owner shut online arch flagship Shut shops cut Zara owner's profit by almost 70% 7 0 林宜悉 posted on 2021/03/12 More Share Save Report Video vocabulary