Zara owner Inditex reported 241 million euros in net profit over the second quarter, forging a path toward recovery amid ongoing disruption from the coronavirus crisis.” data-reactid=”19″>PARIS — Bouncing back from a loss at the start of the year, Zara owner Inditex reported 241 million euros in net profit over the second quarter, forging a path toward recovery amid ongoing disruption from the coronavirus crisis.
“This is a cornerstone of our unique business model with three key pillars: flexibility, digital integration and sustainability. Day by day, this combination is proving its solidness,” he added.
Inditex has sprinted ahead of rivals on the digital front, outfitting stores with state-of-the-art tracking systems and offering fast delivery in urban areas. It plans to invest nearly 3 billion euros over the next two years in beefing up its digital platforms and integrating store and online stock, as it culls smaller stores and focuses on larger, spruced-up flagships.
Hennes & Mauritz AB reported improved business Tuesday, beating expectations with a forecast of returning to profitable territory in the coming months.” data-reactid=”32″>Swedish rival Hennes & Mauritz AB reported improved business Tuesday, beating expectations with a forecast of returning to profitable territory in the coming months.
