Name: Zara, H&M stem decline in sales
Uploaded: 2020-12-16T18:51:12.000Z
Duration: 1 min 32 s
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Past simple

sales at fashion retailer Inditex fell 14% in the three months from August to October.

Gerund

That was something of a recovery after falling nearly a third in the previous quarter.

To-infinitive

But store based sales for the Zara owner continued to see significant impact due to the fresh restrictions imposed in November.

The world's biggest clothing retailer said that while 1/5 of stores were closed that month, most reopened in the first week of December.

It added, though, that many stores are still having to operate with restrictions in place.

Inditex said its third quarter net profit reached €866 million or just over a billion dollars.

That was down 26% compared to a year ago.

Online sales, though, continued to provide a boost, up 76%.

Inditex and rival H and M both reported their first ever quarterly losses earlier this year.

H and M, the world's second biggest fashion retailer, said on Tuesday that local currency sales fell 10% in its fourth quarter.

The Swedish brand said that a recovery seen in the previous period had continued through much of the following three months, but that sales had been hit again from the end of October.

H and M said sales in the quarter fell to $6.25 billion.

 One analyst told Reuters that the chain was showing good resilience prior to the latest wave of lockdowns, but could now be affected by further restrictions on stores, including in its largest market, Germany. 