Zara-parent Inditex postpones dividend, books 287 million euros inventory provision

Inditex Group’s net sales increased by 8 percent in FY19 to 28.29 billion euros (31.14 billion dollars), underpinned by growth across all of its brands and in all of the geographies in which it has a presence. However, the company saw its store and online sales in local currencies decrease by 4.9 percent between February 1 and March 16, 2020, while between March 1 and March 16, 2020, store and online sales in local currencies decreased by 24.1 percent amid spread of coronavirus across the world.