PARIS — Zara proprietor Inditex reported gross sales are bettering regardless of ongoing retailer closures in vital markets because it reported 1.1 billion euros in annual internet revenue, exhibiting how the nimble, tech-savvy retailer has drawn on its digital prowess to navigate the pandemic.
Gross sales have been down 4 p.c within the first week of March, and down 15 p.c for the month of February, exhibiting enchancment from a 28 p.c decline for the yr ending Jan. 31.
Excluding the 5 main markets the place lockdown measures are in place — Germany, Brazil, Greece, Portugal and the U.Okay. — gross sales have been up 2 p.c within the first week of March, providing a snapshot of shopper demand.
“Inditex as an organization is stronger at this time than it was two years in the past, with a novel enterprise mannequin and a world, versatile, digitally built-in and environment friendly gross sales platform,” Inditex government chairman Pablo Isla stated in a press release. Isla added that the digital efforts locations the corporate “in a superb place for the long run.”
The Spanish retailer, which additionally owns labels Massimo Dutti, Bershka and Stradivarius, turned the nook within the second quarter,