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Zara parent Inditex posts 5% sales rise

Sales at Zara’s parent company Inditex rose 5% in the first nine months of the year as it opened further stores across the globe.

From February 1 to October 31 sales increased to €11.93bn (£10.0bn) with store sales rising by 10% as like-for-like growth remained strong. Net profit rose 1% to €1.67bn (£1.40bn).

Since the end of the period store revenues have continued to rise, up 10% in the period between November 1 and December 8.

During the first nine months Inditex opened a net of 240 larger stores across 54 markets. The company also enlarged more than 100 flagship stores and its store portfolio now stands at 6,249 in 86 markets.

During the period Inditex continued to expand its online operations, deploying online stores for Zara, Bershka, Massimo Dutti, Stradivarius and Oysho in Russia. In 2014 Zara will roll out its online platform in South Korea and Mexico.

Over the last 12 months Inditex has created more than 8,000 new jobs around the world and the headcount on October 31 was 124,880.

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