June 20, 2021

Acotex believes that Inditex’s results are “an oasis in the desert” By EFE

© Reuters. Acotex believes that Inditex’s results are “an oasis in the desert”

Madrid, Jun 10 (.) .- The president of the Business Association for Textile and Accessories Trade (Acotex), Eduardo Zamácola, commented this Thursday that the net profit obtained by Inditex (MC 🙂 in its first fiscal quarter (421 million euros) is “an oasis in the desert” for the sector.

Acotex has communicated that the sales of the textile trade sank 41.6% in 2020, influenced by the anticovid measures, and that between January and May of this year the accumulated fall already reached 35.7% with respect to the figures of 2019 in that period.

In this context, Zamácola has opined that the Inditex textile group “is itself an oasis in the desert.”

“It has the operational capabilities, the financial muscle and the lung to endure bad situations,” he added about the Galician multinational, which includes the brands Zara, Pull & Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, Zara Home and Uterqüe.

“The only thing I can do”, he said about Inditex, “is to congratulate him” and has specified that it is a global company “with countries in situations very different from those of Spain and with many eggs distributed in many baskets”.

Zamácola has wanted to focus, however, on analyzing the situation of the textile sector in Spain and has opined that it is “very different from that of the rest of the countries due to the pandemic situation and the management of the central government.”

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