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Inditex confident on sales

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Inditex confident on sales

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Europe’s biggest clothing retailer Inditex said it beat its net profit forecasts for the first nine months of the year helped by growth in Asia.

The Spanish owner of the Zara fashion chain also said sales have picked up heading into the key holiday period.

However, analysts estimate that like-for-like sales – which strip out the boost to turnover from new stores – fell by more than they expected during the third quarter.