Inditex closing down 800 outlets worldwide

Spanish apparel retailer Inditex has temporarily shuttered almost 3800 stores in 39 markets internationally in the midst of the coronavirus outbreak.

All Inditex locations in its home territory are currently closed for business.

Affected stores include Zara, Pull & Bear, Massimo Dutti and Bershka-branded outlets, sales at all of which have been strongly affected by the virus.

Retail takings for the group dropped 24.1 percent in the first fortnight of March.

While the firm stated it is too early to predict the ultimate impact of the outbreak on its business, Inditex expressed confidence in its business model to weather the crisis, even as European countries begin to enforce government-mandated lockdowns.

The firm has set up remote working systems at its Spanish head office and closed gym and bus services.