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Zara owner Inditex bucks retail trend as sales boom - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

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Fashion giant Zara’s owner Inditex reported an 80% jump in quarterly profit on the back of soaring sales as consumers revamped their wardrobes after months spent stuck at home during the pandemic lockdowns. Zara

Zara's logo is displayed on a window, at one of the company's largest stores in the world, in Madrid, Spain.Zara's logo is displayed on a window, at one of the company's largest stores in the world, in Madrid, Spain.

Zara has benefited from successfully passing on higher prices to shoppers despite a cost of living crisis squeezing margins at other retailers. U.S. retailer Target is offering deep discounts to clear unwanted inventory, it said on Tuesday, hitting shares in global retailers. The ongoing recovery in Britain, Europe and the United States helped Inditex make up for part of the lost revenue in Russia after the company closed its 502 shops there in March following Moscow’s February 24 invasion of Ukraine.

 

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