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Revenue and profits rise at Inditex

Sales and profits climbed at Inditex in the first nine months of its 2019 financial year, attributed to its focus on “high-quality store environments, products and customer experience”.

Net sales at Inditex rose 7.5% to €19.8bn (£166.7bn) during the period, and net profit by 12% to €2.72 bn (£2.2bn). Its gross margin increased to 58.2%.

Executive chairman Pablo Isla said: “Solid growth [was] delivered by our integrated stores and online model, thanks to our focus on the highest-quality locations, store environments, products and customer experience, both in stores and online. Crucially, this is coupled with strategic investments in technology and sustainability.”

The business, which owns retailers including Zara, Massimo Dutti, Bershka, Pull & Bear, Stradivarius, Oysho and Uterqüe, estimates that group like-for-like sales growth will fall between 4%-6% for the full year.

Zara launched online in South Africa, Ukraine, Philippines and Colombia during the period. Massimo Dutti and Zara Home launched online in United Arab Emirates, Saudi Arabia, Lebanon and Morocco. Stradivarius, Oysho and Uterqüe launched their online platforms in the US.

Inditex said it had made progress on its sustainability commitments, which includes the reduction of packaging, reuse of boxes, hangers and security tags, sustained improvement in energy consumption and the growing use of more sustainably-produced fabrics.

As of the end of October, the Inditex Group had 7,486 stores around the world.

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