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Inditex boosts sales

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Inditex boosts sales

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Spanish fashion group Inditex has posted a better than forecast 68 percent rise in first-half net profit.

The world’s biggest clothing retailer enjoyed profit of 628 million euros from positive currency exchange rates and improved consumer demand.

But sales growth at its shops – including flagship brand Zara – was more modest in the third quarter which caused Inditex shares to slip.

Net sales reached 5.525 billion euros in the first half.

Inditex said it has had a satisfactory customers’ response to its initial six-country launch of Zara online sales, adding it would extend the offer to Austria, Belgium, Ireland, Luxembourg, and the Netherlands during the second half.