Zara-owner Inditex books 287 million euro provision against coronavirus impact

MADRID (Reuters) - Zara-owner Inditex said on Wednesday the coronavirus pandemic had dealt a significant blow to its business and that it would book a provision of 287 million euros (260.62 million pounds) against the outbreak's impact on its spring/summer inventory position.The cash-rich fashion group said the uncertainty generated by the coronavirus pandemic meant it may channel the cash destined for the payment of the 2019 dividend into reserves, subject to a board and shareholder..