for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

Inditex says net profit fell 70% in 2020 from 2019

MADRID, March 10 (Reuters) - Zara owner Inditex reported on Wednesday its net profit fell 70% in 2020 to 1.1 billion euros ($1.31 billion) after a year of global lockdowns and dampened demand caused by the coronavirus pandemic.

Fourth quarter net profit fell 53% to 435 million euros out of sales of 6.3 billion euros as restrictions on shopping came back into force across much of Europe around Christmas, the company said. ($1 = 0.8423 euros) (Reporting by Victoria Waldersee, Editing by Inti Landauro)

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up