MADRID (dpa-AFX) - Inditex (IDEXF.PK) reported that its net sales for fiscal year 2020 were 20.4 billion euros, representing a year-on-year decline of 28% or 25% excluding the foreign exchange impact.
Online sales increased by 77% in local currencies to 6.6 billion euros.
Net profit was 1.1 billion euros in fiscal year 2020. The company reached a 1.3 billion euros net profit during the second half of the fiscal year
Inditex said its board will submit a motion for a 0.70 euros per-share dividend at the Annual General Meeting scheduled for July. The proposed payment will consist of an ordinary dividend of 0.22 euros and an extraordinary dividend of 0.48 euros per share, divided into two equal payments, 0.35 euros per share to be paid on 3 May 2021 and another 0.35 euros, on 2 November 2021.
The company said, in its 2021 trading update, that store and online sales in local currencies declined by 15% between 1 and 28 February, with 21% of the stores closed. Between 1 and 7 March, with 15% of stores closed, sales contracted by 4%. Excluding the five more significant markets with mandated closures (Germany, Brazil, Greece, Portugal and UK) sales registered growth of 2%.
Copyright RTT News/dpa-AFX
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