Popular high-street retailer Zara has announced the temporary closure of all its 3,785 outlets worldwide, amidst concerns about the coronavirus pandemic.
The chain’s entire Spring and Summer ranges are now likely to be considerably discounted when the stores open again in the future.
Zara, owned by Spanish-based group Inditex, is nevertheless in a strong financial position right now, after posting a substantial increase in earnings to €7.6 billion, up from €5.5 billion in 2018.
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