ZARA parent company Inditex Group has a net loss of 195 million euros

Fast fashion brand ZARA's parent company Inditex Group announced its financial report that in the first half of this year, the group recorded a net loss of 195 million euros, compared with a net profit of 1.55 billion euros in the same period last year. In addition, the group revealed in its first quarter financial report that it plans to close 1,000 to 1,200 stores.