Zara owner Inditex sees profits rise

June 15, 2016 9:01 am Published by

Zara owner Inditex sees profits rise

  • 15 June 2016
  • From the section Business

A Zara store in ChicagoImage copyright

First quarter profits at Inditex, the world’s biggest clothing maker and owner of chains including Zara and Pull and Bear, have beaten forecasts.

Net profit rose 6% to €554m ($621m; £439m), ahead of analysts’ expectations, with sales up 12%.

The company, which is still expanding, said new stores and new internet sites were opening in line with its targets.

Inditex has more than 7,000 stores in 90 countries. In early trading the retailer’s shares were up 4%.

Inditex operates eight store brands, including Massimo Dutti and Bershka.

Its newest stores include openings in Vietnam, New Zealand, Paraguay, Aruba and Nicaragua. It is planning to be online in all European countries this year,

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This post was written by FSB News