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Zara Owner Inditex to Close Up to 1,200 Stores

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Inditex, long the golden child of fashion success, is feeling the pain of the coronavirus pandemic. The Zara parent company posted its first ever quarterly loss Wednesday, reporting a 409 million euro ($464 million) net income loss in the first quarter, compared to a to 734 million euro ($832 million) gain in the same quarter…

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