Published On: Wed, Sep 15th, 2021
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Zara Owner Inditex Outshines H&M as Sales Top Pre-Pandemic Levelson September 15, 2021 at 12:17 pm

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MADRID—Fashion brand Zara owner Inditex has outpaced Swedish rival H&M in its efforts to bounce back from the coronavirus crisis, with second-quarter sales rising above pre-pandemic levels. The world’s biggest fashion retailer’s sales in the quarter edged above levels seen before the pandemic as most stores reopened and people rushed to renew their wardrobe after store closures imposed to curb the spread of the virus. Rival H&M’s sales grew less than expected from a year ago in the three months through August, and remained lodged below pre-pandemic levels. H&M said lockdowns and restrictions hampered its development, particularly in Asia. Inditex Executive Chairman Pablo Isla said that sales in stores and online were progressively recovering across all brands and markets, despite some restrictions in Asia due to the pandemic. “We have had a strong start in the autumn winter season,” he told a conference call. “Inditex competitive differentiation is bigger than … Save 10% on Citrus trees with code CITRUS

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