Zara parent company to close 1,200 stores

Retail store Zara will close up to 1,200 stores worldwide as parent company Inditex moves to boost online sales.

The company will absorb at least 1,000 stores after suffering a 44 per cent sale slump between February and April.

Store closures will be concentrated in Asia and Europe and it remains unclear whether Australian stores would be impacted.

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