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Inditex sales and profits climb steadily

Inditex’s sales climbed 7% to €12.7bn (£10.1bn) in the nine months to October 31.

The Zara, Massimo Dutti, Pull & Bear and Stradivarius owner said sales in constant currencies were up 10.5% year on year. Like-for-like sales growth during the period was “strong”.

EBITDA rose 2% to €2.8bn (£2.2bn), while net profit over the period was up 1% to €1.7bn (£1.3bn).

The group created 8,500 new jobs during the last year, lifting its global headcount to 133,400.

It opened a net 230 stores in 50 countries, bringing its total to 6,570 in 88 countries, and launched online in South Korea and Mexico. It opened its first Stradivarius store in the UK – at Westfield Stratford in London – in August.

Store and online sales in constant currencies rose 14% between November 1 and December 8.

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