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Inditex sales only increase by 5% despite international expansion

Sales at Spanish fast-fashion group Inditex, parent of Zara, Massimo Dutti, Bershka and Pull and Bear chains, rose only 5% to £3.06bn for the first quarter, despite opening 49 new stores.

The company said net income had also risen by only 2% to £373m for the period, while total earnings before tax was down £18m to £559.

Store sales in local currencies increased by 8% between 1 May and 7 June 2013 despite 49 new store openings in 30 countries during this time. Russia, Japan and China accounted for the largest number of new store openings as of 30 April 2013 bringing the total number of stores in the group to 6,058.

During the quarter, Pull & Bear opened its first store in Germany and Stradivarius debuted in Verona. Zara also launched in the Indian city of Jaipur.

The group has created more than 10,000 new jobs worldwide in the last 12 months and has forged ahead with its investment plans for Spain.

Following the launch of its online sales platform in Canada, Zara is currently selling its products online in 23 countries including 19 European markets, the US, Japan, China and Canada. Zara plans to launch online shopping in Russia this autumn.

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