Inditex Lost Money for the first time!

Inditex Lost Money for the First Time!

Spanish textile giant Inditex announced that it was the first time that it suffered damage due to the effect of the Coronavirus (Covid-19) outbreak. The textile company Inditex, established in Spain, is in the largest position in Spain and among the largest companies worldwide. Inditex, which includes Zara, Massimo Dutti, Pull & Bear, Bershka, Stradivarius, Oysho and Uterqüe; It has more than 7,400 stores in 96 countries.

Inditex Reports Its First Loss in History

Spanish textile company Inditex reported that the fiscal period of 2020-2021 fell 409m euros in the first quarter of February 1 to April 30. In the same period of last year, Inditex announced that it had made a profit of 734 million Euros. The giant company, which went on sale in 2001, reported that it had suffered for the first time in its history. The sales of Inditex, which was greatly affected by the coronavirus (Covid-19) epidemic, remained negative for the first time; It was recorded that there was about 3 billion 303 million euros and a 44 percent decrease. On the other hand, Inditex recorded a 50 percent increase in online sales. In addition, the company stated that it would make a proposal at the general shareholders meeting to be held on 14 July, that the gross dividend distribution per share to be made on 2 November would be 0.35 cents. It was noteworthy that the dividend distribution, which was 0.88 cents last year, predicted a decrease of nearly 60 percent due to the health and related economic crisis.