The group has recorded another strong year, excluding the inventory provision for COVID-19. The new FY20 is expected to be considerably affected by the COVID-19 pandemic, as 51% of the group’s stores have been closed temporarily in 39 countries as of today, and more countries will follow, shutting their commercial activities, such that more than 70% of the group’s sales will be temporarily frozen. However, the ample balance sheet and strong cash generation could help the group con
18 Mar 2020
An ample wallet will enhance Inditex’s immunity
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An ample wallet will enhance Inditex’s immunity
Industria de Diseno Textil, S.A. (ITX:WBO) | 0 0 1.6% | Mkt Cap: 83,713m
- Published:
18 Mar 2020 -
Author:
Jie Zhang -
Pages:
3
The group has recorded another strong year, excluding the inventory provision for COVID-19. The new FY20 is expected to be considerably affected by the COVID-19 pandemic, as 51% of the group’s stores have been closed temporarily in 39 countries as of today, and more countries will follow, shutting their commercial activities, such that more than 70% of the group’s sales will be temporarily frozen. However, the ample balance sheet and strong cash generation could help the group con