After first-quarter earnings announcement, Inditex urged to cut ties with Xinjiang cotton

June 9, 2021 | By Danny Parisi

Zara parent company Inditex posted earnings this morning for the first quarter of its 2021 fiscal year, showing strong growth. Overall sales grew by 50% in the first quarter from the previous quarter to nearly $6 billion.

Much of that growth has come from the reopening of stores globally and the easing of Covid-19 restrictions. For example, while store sales grew by 102% year-over-year, they grew only 5% when compared to 2019. In an earnings call, executive chairman Pablo Isla cited new store openings in  Asia — Hong Kong, in particular — as helping to drive some of that new sales growth.

Read the full article: https://www.glossy.co/fashion/after-first-quarter-earnings-announcement-inditex-urged-to-cut-ties-with-xinjiang-cotton/