About: http://data.cimple.eu/news-article/b178057efaf4452ad1bff5a5b0f1bfa00b66d42f666bbb009fb3e863

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About: http://data.cimple.eu/news-article/b178057efaf4452ad1bff5a5b0f1bfa00b66d42f666bbb009fb3e863 Goto Sponge NotDistinct Permalink

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rdf:type	schema:NewsArticle
schema:articleBody	Spanish textiles giant Inditex, owner of the Zara chain of fashion shops, said Wednesday it was taking a charge of 287 million euros ($320 m)in its 2019 results because of the coronavirus crisis. The company said net profit for its year to end-January 2020 was 3.6 billion euros, a gain of six percent with the charge, but which would have been 12 percent without it. Analysts surveyed by Factset had expected net profit of 3.8 billion euros. Inditex said it was suspending its dividend to protect the business in a health crisis which has forced it to close half of its shops around the world. Sales for the year came in at 28.3 billion euros, up 8.0 percent and in line with forecasts. "It is too early to give an outlook for 2020," given the volatility generated by the coronavirus outbreak, the company said. The impact so far, however, has been "very significant," it added. Of its 7,469 boutiques around the world, "3,785 are currently closed temporarily in 39 markets," it said. At the same time, it said nearly all its shops in China, a key market and producer of its goods, had reopened as the authorities pegged back the virus. Inditex, which owns other top brands such as Massimo Dutti, Bershka, Stradivarius, said its online sales operations -- about 10 percent of the total -- were normal in all its markets, as were its supply chains. emi/lth/bmm/jj
schema:headline	Zara owner takes coronavirus 287 mn euros hit
schema:mentions	Variance Dividend Zadar Spanish language Virus China Severe acute respiratory syndrome coronavirus 2 Massimo Dutti Bershka Stradivarius Key market Inditex FactSet EMI Fixed exchange-rate system Microsoft Outlook
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-03-18 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	57 (xsd:integer)
http://data.cimple...tology#hasEmotion	happiness

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