Inditex profit drops but sales recover over Q2

Inditex generated a net profit of 671 million euros in the nine months of FY20 and 866 million euros in the third quarter, while Ebitda reached 1.85 billion euros in the quarter, down from 2.23 billion euros in the prior year. The company said in a statement that the sales trend continued to improve with sales declining by 14 percent or 10 percent in constant currencies in the third quarter, compared to reductions of 31 percent in the second quarter and 44 percent in the first quarter of 2020. Growth in online sales was 75 percent in constant currencies in the first nine months of the year, and 76 percent in the third quarter.