Sumary of Zara owner trumps H&M in battle of world’s top fashion retailers:
- Zara ower Inditex has stolen a march on arch-rival H&M after sales and profits soared to record highs.
- Inditex surged ahead in the battle between the world’s two biggest fashion retailers as sales hit £6billion in the three months to July.
- This was 7 per cent above the same period of 2019.By contrast, sales of £4.7billion at H&M in the three months to the end of August were down 11 per cent on the pre-Covid equivalent two years earlier.
- The right look: Inditex surged ahead in the battle with arch-rival H&M as sales hit £6bn in the three months to July.
- This was 7 per cent above the same period of 2019Profits at Spanish group Inditex, which also owns Massimo Dutti and Bershka, rose to £726million as online sales soared and shops stayed open in key markets.
- This speeds up the time it spends completing online orders because it can send goods from stores rather than just warehouses.
- ‘As restrictions have been eased, sales in store have picked up in many markets while online sales have continued to increase.
- ‘Store reopenings have boosted retailers since tough restrictions were lifted across the West – but online sales are still growing.