More then half of the Inditex group’s stores worldwide are currently closed due to the coronavirus

Inditex presents its annual results for 2019, but it is of course the year 2020 which is already in everyone’s mind, the Covid-19 epidemic requires … As of March 18, 2020, the Spanish group announces that it has 3,785 stores closed in 39 countries. This represents half of its global fleet, since the group operates 7,469 points of sale in 96 countries. -24% between March 1 and 16 Direct consequence: the start of the year is obviously bad. And how could it be otherwise, even if the stores have reopened in China, with the exception of 11 of them… Between February 1 and March 16, 2020, Inditex saw its sales drop by 4.9% worldwide with an even more severe decline since March 1: -24%. 28.3 billion euros in turnover For its 2019 financial year, on the other hand, Inditex posted good results, with turnover up 8% (+ 6.5% on a comparable basis), to 28.3 billion euros. All for a net profit of 3.6 billion euros. Online sales, at 3.9 billion euros, increased by 23%, and now represent 14% of total turnover.


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