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Zara’s parent company to invest $3 billion in e-commerce—and expanding physical stores

June 10, 2020

Via: Fortune

Inditex SA plans to invest 2.7 billion euros ($3 billion) to boost e-commerce operations of chains like Zara and Bershka and expand store space to gain an edge on rivals as the pandemic snarls the clothing-retail industry.

The Spanish retailer aims to get more than a quarter of its sales from the web by 2022 after online growth helped mitigate a 44% drop in first-quarter sales. Inditex delayed a special bonus dividend after reporting its first quarterly loss since it went public two decades ago.

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