70 percent less profit at the fashion group Zara

Booming online trade was able to cushion the slump in profits and sales last year a little

The Spanish fashion group Inditex, the parent company of Zara, posted a profit slump in the corona pandemic that was higher than expected. The net result fell by 70 percent to 1.1 billion euros. Analysts had expected a profit of 1.3 billion euros. The sales of the Spanish fashion group fell by 28 percent to 6.8 billion euros.

The 77 percent increase in online retail cushioned the losses in stationary retail, which was characterized by shop closings and contact restrictions in the corona crisis.