Zara-owner Inditex sales plunge, writes down inventory due to coronavirus

MADRID (Reuters) - Zara-owner Inditex said on Wednesday the coronavirus pandemic had dealt a significant blow to its business with sales in the first two weeks of March plunging 24.1% and nearly 4,000 stores temporarily closed around the world.The cash-rich fashion group said it would book a provision of 287 million euros (260.62 million pounds) as the outbreak reduces the value of its spring/summer inventory and would postpone a decision on whether to pay out the 2019 annual dividend until..