{"id":8617,"date":"2020-06-11T22:25:36","date_gmt":"2020-06-11T20:25:36","guid":{"rendered":"https:\/\/www.dazzlepop.net\/site\/?p=8617"},"modified":"2020-06-11T22:27:43","modified_gmt":"2020-06-11T20:27:43","slug":"zara-sales-expected-to-be-online-in-2022","status":"publish","type":"post","link":"https:\/\/www.dazzlepop.net\/site\/zara-sales-expected-to-be-online-in-2022\/","title":{"rendered":"Zara sales expected to be online in 2022"},"content":{"rendered":"
\"Zara<\/div>\n

Zara owner sees online sales surge 95% in April<\/p>\n\n\n\n

Inditex, the owner of Zara<\/a>, said online sales surged 95% in April as its stores were closed during the coronavirus<\/a> lockdown<\/a> in much of Europe.<\/p>\n\n\n\n

The company said it expected part of the shift to be permanent, with a quarter of Zara sales expected to be online in 2022, up from 14% in 2019.<\/p>\n\n\n\n

Even so, the firm booked its first-ever quarterly loss as sales overall dived.<\/p>\n\n\n\n

Sales fell to \u20ac3.3bn (\u00a32.9bn) for the first three months of the month, down from \u20ac5.9bn a year earlier.<\/p>\n\n\n\n

That led to a quarterly loss of \u20ac409m for the Spanish firm, which also owns the Bershka and Pull & Bear brands.<\/p>\n\n\n\n

“Lockdown is accelerating existing trends, forcing retailers to acknowledge the digital age has dawned,” said Sophie Lund-Yates, from stockbroker Hargreaves Lansdown.<\/p>\n\n\n\n

“The Zara owners were already working towards improving their online capabilities but lockdown has ushered in a new urgency.”<\/p>\n\n\n\n

She highlighted Zara’s success in managing its stock levels.<\/p>\n\n\n\n

\"Zara
Zara sales expected to be online in 2022<\/figcaption><\/figure>\n\n\n\n

Inventory fell 10% in April, she said, “in stark contrast to the likes of M&S or Primark who have been lumbered with swollen piles of stock”.<\/p>\n\n\n\n

The shares rose 2.3% in Madrid trading.<\/p>\n\n\n\n

Cash-rich<\/h2>\n\n\n\n

Inditex said it would spend \u20ac900m a year for the next three years on big, centralised stores and its online platform. It will close more than 1,000 smaller stores in the process.<\/p>\n\n\n\n

It expects most stores to open by the end of the month, it said.<\/p>\n\n\n\n

The firm has a big advantage over many High Street competitors, thanks to its cash reserves.<\/p>\n\n\n\n

It has \u20ac5.8bn, compared with \u20ac6.7bn last year.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Source: bbc<\/a><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Zara owner sees online sales surge 95% in April Inditex, the owner of Zara, said online sales surged 95% in April as its stores were closed during the coronavirus lockdown in much of Europe. The company said it expected part of the shift to be permanent, with a quarter of Zara sales expected to be […]<\/p>\n","protected":false},"author":3,"featured_media":8620,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_vp_format_video_url":"","_vp_image_focal_point":[],"footnotes":""},"categories":[45],"tags":[284,31,519,561,828,608,826],"class_list":["post-8617","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-bbc","tag-business","tag-coronavirus","tag-covid-19","tag-lockdown","tag-pandemic","tag-zara"],"yoast_head":"\nDazzlepop | Zara sales expected to be online in 2022<\/title>\n<meta name=\"description\" content=\"Zara sales expected to be online in 2022 Inditex, the owner of Zara, said online sales surged 95% in April as its stores were closed during\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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