Worldwide sales are recovering, both at retail and through online channels.
Spanish fashion retailer Inditex Group announced a recovery in sales and revenue growth in the second quarter of 2021 relative to 2019 data. The company achieved a strong performance by reopening nearly all stores that had been closed due to restrictions.
Inditex Executive Chairman Pablo Isla said sales are recovering both at retail and through online channels worldwide, despite restrictions in Asia. "We had a strong start to the fall and winter season, and Inditex's competitive differentiation is greater than ever," the top executive commented.
Market participants note that the consumer model is changing, with consumers' spending shifting toward office wear as they return to everyday living. Against this background, brands such as Zara and Massimo Dutti are growing ahead of the market.
Inditex's second-quarter 2021 net income rose from €214 million to €850 million and was 4% higher than in pre-recession 2019. Sales growth for the reporting period was 7 percent, to 7 billion euros, according to Reuters news agency.
17 SEPTEMBER 2021, Spain