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Zara Owner Pulls in $1.3B 2020 Profit, Even with 30% of Stores Closed

COVID-19 recovery is on the horizon but the pandemic's impact on sustainability, retail, product development and consumer buying patterns means the denim industry must evolve. Join Rivet on April 20th at 11 am ET for the COVID, One Year Later roundtable.

Fast fashion giant Inditex saw net profit of 1.1 billion euros ($1.3 billion) for the period from Feb. 1, 2020 to Jan. 31, 2021, plunging drastically from the 3.6 billion euros ($4.6 billion) earned through 2019, a nearly 70 percent decline. The Spanish company, most known for its Zara brand, saw 2020 net sales of…

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