- FashionUnited |
The company said on Wednesday its Q1 net loss dropped. Compared with the same period last year, revenues also decreased by 44.3 percent.
For Q1, the company's net profit was -409 million euros, dropped from 736 million euros last year. Furthermore, revenues decreased to 3,303 million euros. The profit margin of the company dropped to -12 percent compared to 12 percent a year ago.
Inditex (BME: ITX) is one of the world's largest fashion retailers. Inditex designs, manufactures and distributes apparel for its own brands of which Zara is the best known. Other Inditex brand and retail names are Pull & Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, Zara Home and Uterqüe. Founded in 1975 by Amancio Ortega, the Spain-based company has 7000 stores throughout the world.
As of 2,020, Inditex has more than 176,600 employees and operates over 6,400 stores.
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