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Inditex Has Closed 284 Stores Over the Last Year, Equivalent to 4% of the Total

The textile giant plans to invest 1.1 billion euros in its stores, online and logistics divisions after announcing a record net profit.

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Inditex, the Spanish fashion giant, has said goodbye with a vengeance to the consequences of the pandemic having closed the first half of its fiscal year 2022-2023 (which runs from 1 February to 31 July) with a record net profit of 1.79 billion euros. That figure represents an increase of 41% compared to the same period a year earlier.

According to a statement filed with the National Securities Market Commission (CNMV) last week, the company sold 24.5% more in interannual terms but also continued to adjust its number of stores around the world, with a reduction of 4.2% as of 31 July compared to the same date in 2021.

Read the full article in Spanish.


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