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Zara owners Inditex boosts profits by 26 percent


Zara owners Inditex boosts profits by 26 percent


The owners of Spanish fashion retailer Zara have revealed a net increase in profits of 26 percent in the first half of the fiscal year.

Thanks to its flagship store, Inditex says sales in the period to the end of July grew by 17 percent to nearly nine-and-a-half billion euros, bringing a net profit of 1.16 billion euros.

The surging sales, which put the company ahead of its main rivals such as H&M, were helped by the weak euro.

Several Zara stores in key world cities including London have also been refurbished.

Inditex, which also owns Massimo Dutti, Pull & Bear and Oysho, says it has opened 94 new shops worldwide in six months, taking on 10,000 more workers in a year – a quarter of them in Spain.

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