Zara: Zara store owner sees solid profit growth in H1
MADRID : Spanish fashion retailerInditex,
which owns the Zara stores,
says its net profit jumped by 9 percent in the first half of its fiscal year,
following strong growth in online and in-store sales.The world''s largest
clothes retailer said Wednesday that net profit for February through July rose
to 1.37 billion euros ($1.64 billion) compared with 1.26 billion euros for the
period last year.
It
said sales rose 12 percent to 11.7 billion euros.Inditex said all its store brands registered growth in the period.Founded in
1975 by Amancio Ortega, Inditex operates eight brands including Massimo Dutti, Bershka and Pull & Bear.
It has 7,405 stores worldwide.Inditex shares were down 2.5 percent at 32 euros
in early trading in Madrid.
Source: Etretail.com
Thursday, 21 September 2017