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Inditex SA, the world’s largest clothing retailer, and Zara’s parent company, has been hit hard by the pandemic, with a sales decline of 44% to €3.3bn/$3.8bn during the first quarter of its financial year. Considering the sharp downturn in sales, one will understandably wonder about Inditex’s relatively small loss. Here is why: online sales rose significantly during the worst period of the pandemic. Today, the giant Spanish retailer looks forward to the challenges of the post-COVID19’s new reality with self-assurance and an unmatched in-store and online retailing savvy.
Part II of the Two-Part Seseña Capes Series. "It has been said: 'The purpose of wearing a cape is to attain a touch of distinction and also have people turn to look at you.'"
The pandemic confinement gave people time to ponder their way of life and, accordingly, their place of residence. Spain, next to the UK, is a top choice of those thinking of moving to a new country when the coast is clear. France comes third.
Taberna Griega could be the quintessential Greek village in downtown Madrid, where GUIDEPOST's "Three Musketeers" celebrated Guidepost Publisher Dan Lowell's birthday which was actually in March but due to the pandemic lockdown we could only celebrate it this September. We had spent an afternoon in its lively taberna and lingered over the luscious Meze served with hot Pita bread and sipping high quality Cretian wines. And of course we feasted on the main courses. Ya mas!
Celebrating an occasion or simply hanging out with friends? You can make the event – or even a non-event – special if you do it in and around a private pool. But you say you don’t own that watery luxury? No problem. You can rent. In so doing, you'll save yourslef the hassles on a beach or a municipal pool.
With huge loses under the circumstances, owner of Casa Patas Martín Guerrero said: “To reopen [Casa Patas] would be suicidal. A debacle. To swim against the current only to end up drowning.” He added: “I have no choice but to shut down. How can I pay my twenty-four employees?” In November 2000, The New York Times wrote: “For flamenco aficionados, there’s only one destination. Since opening in 1983, Casa Patas has built a reputation as the best club in Spain to see this ancient, haunting art form.” But on March 13, 2020, Patas had to go. However, it seems all isn’t lost, faint though the glimmer of hope is, when Guerrero appended: “Who knows when this Spanish custom will be able to return once again after the pandemic.”
GUIDEPOST LOVES GOOD NEWS: The EU Approves its Own Marshall Plan* Following the Devastating Corona Pandemic! »
European Commission President Charles Michel: “This is a good deal. This is a strong deal. And most importantly, this is the right deal for Europe. We negotiated about money. But, of course, it is about a lot more than money. It is about workers and families, their jobs, their health and their well-being. I believe this agreement will be seen as a pivotal moment in Europe’s journey, but it will also launch us into the future. That is the magic of the European project”
Spanish Prime Minister Pedro Sánchez: The Agreement in Brussels of the Coronavirus Recovery Plan marks “one of the most brilliant pages ever written in EU history.” It is “a historic agreement for the economic recovery of our country [i.e., Spain], not only in offering a response to the COVID-19 crisis, but also to the transformations needed.” The Agreement is 95% satisfactory for Spain and 100% for the whole of the EU.
I had given up finding my favorite Street Performer Don Quixote. I was afraid he had gone the way of the many other performers, not to be found again. But to my surprise, on one of my last days in Madrid I rounded the corner and there he was. Tall, handsome, and lance in hand, waiting for people to take his picture. I have always loved finding him.
The EU economy will experience a deep recession this year due to the coronavirus pandemic. The Summer 2020 Economic Forecast projects that the euro area economy will contract by 8.7% in 2020 and grow by 6.1% in 2021. The EU economy is forecast to contract by 8.3% in 2020 and grow by 5.8% in 2021. Early data for May and June suggest that the worst may have passed. The recovery is expected to gain traction in the second half of the year, albeit remaining incomplete and uneven across Member States.