H&M and Inditex reveal sales recovery despite supply disruption

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy H&M and the owner of Zara Inditex have both seen sales rebound despite continued challenges from the pandemic and supply chain disruption. These results are very satisfactory and demonstrate once again the solidity of our business model, the quality and commitment of our teams, and the potential being realised by our strategy of fully integrating stores and online Pablo Isla, Inditex It said that about 100 stores, mainly in South East Asia were shut at the start of the quarter, with this rising to 115 temporary closures by the end of the period. Elsewhere, the world’s largest fashion retailer, Inditex, said its net income hit a record high for the three months to October as sales rose by 10% against 2019 levels, and 21% against last year. Inditex’s executive chairman, Pablo Isla, said: “These results are very satisfactory and demonstrate once again the solidity of our business model, the quality and commitment of our teams, and the potential being realised by our strategy of fully integrating stores and online.” Laura Hoy, equity analyst at Hargreaves Lansdown added: “Zara owner Inditex should have been riding high this morning after confirming that sales are firmly in front of pre-pandemic levels.