Zara parent improves sales, with more gains predicted
Zara parent Inditex boosted global sales by 3 per cent in the half year to July 31.
And the Spanish-headquartered fast-fashion specialist is projecting an increase of up to 6 per cent in the second half.
Net profit was €1.41 billion euros on sales of €12 billion euros (US$14 billion).
The results were better than they may appear at first glance given the pressure on the company of the strong euro compared with overseas currencies used in its stores. In particular the falling value of the Turkish lira and the Russian rouble are impacting revenues.
Inditex said its autumn clothing collections were well received with items such as corduroy coats and dresses with embroidery proving particularly popular.
The company did not give any regional breakdown of sales figures.