Massimo Dutti faces earnings decline as office wear becomes less popular among high street shoppers

Massimo Dutti’s owner Inditex is struggling to reverse an earnings decline at its formal-wear chain as mid-range office wear is hit particularly hard by the cost-of-living crisis.

Earnings from the brand dropped 9.6 per cent in the past fiscal year, Inditex reported Wednesday. Revenue stood at €1.6 billion, 16 per cent below the level of 2019, making Massimo Dutti the only Inditex chain that hasn’t yet recovered from the pandemic.

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