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Inditex returns to profit in Q2, expects further recovery in Q3

12 days ago   |   By Fashion United

Inditex Group sales continued to recover during the first half of 2020 to reach 8 billion euros, decline of 37 percent, helped by an improved second quarter, when the fall in sales slowed to 31 percent, from a decline of 44 percent in the first quarter. The company said in a statement that it also returned to net profit in the second quarter of 214 million euros leaving behind the Q1 net loss. First half net loss was 195 million euros. The company added that leaving out the 308 million euros provision recognised in the first quarter to accelerate the integration of the store and online...
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