About: http://data.cimple.eu/news-article/8f2117665b5161126fe414869105edc8b2bde200fed7ec0e3beadb28

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About: http://data.cimple.eu/news-article/8f2117665b5161126fe414869105edc8b2bde200fed7ec0e3beadb28 Goto Sponge NotDistinct Permalink

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rdf:type	schema:NewsArticle
schema:articleBody	Spanish textile titan Inditex, owner of global fashion retailer Zara, said Wednesday that it swung back into profit in the second quarter as it reopened most of its stores following virus shutdowns and enjoyed strong online sales. The group, which also owns the Bershka and Massimo Dutti brands, posted a higher-than-expected net profit of 214 million euros ($253 million) in the three months from May to July. Inditex, which runs its business year from February to January, had booked a loss of 409 million euros in the previous quarter when it was forced to close over 90 percent of its 7,000 shops around the world due to Covid-19 lockdown measures. The second-quarter results were better analysts' expectations for net profit of some 58 million euros. Inditex said 98 percent of its stores had reopened and that the "third quarter continues to see a progressive return to normality, with online sales growing sharply and store sales recovering gradually." In the period from May to July, sales rose to 4.73 billion euros from 3.30 billion in the previous quarter. For the first half, Inditex posted a loss of 195 million euros. Internet sales surged by 74 percent during the six-month period as it began selling online in nine more countries, including Argentina and Peru. Since 2012, Inditex has invested around 2.5 billion euros in beefing up its online sales by reducing its stock of smaller older shops and investing in larger stores in high-profile locations. emi/ds/mg/spm
schema:headline	Zara owner Inditex back in profit as stores reopen
schema:mentions	Computer virus Zadar Spain Internet Peru Lockdown Argentina Coronavirus disease 2019 Massimo Dutti Bershka Inditex EMI
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-09-16 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	70 (xsd:integer)
http://data.cimple...tology#hasEmotion	happiness

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