A building is reflected in the window of a Zara clothes store, part of the Spanish Inditex group, in Bilbao, Spain, November 30, 2021. REUTERS/Vincent West
March 5, 2022
MADRID (Reuters) – Spanish fashion retailer Inditex has halted trading in Russia, closing its 502 shops and stopping online sales, the company said in a statement on Saturday to the Spanish regulator.
“In the current circumstances Inditex cannot guarantee the continuity of the operations and commercial conditions in the Russian Federation and temporarily suspends its activity”, the Zara owner company said.
Russia accounts for around 8.5% of the group’s global EBIT, Inditex added.
(Reporting by Corina Pons, Editing by Louise Heavens)
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