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Sales and profits grow at Inditex

Zara jpg

Zara jpg

Inditex has reported a 16% increase in sales to €14.74bn (£10.6bn) for the nine months to October 31, as net profit jumped by 20% to €2bn (£1.4bn).

EBITDA increased 18% to €3.3bn (£2.3bn), while gross profit was up 16% to €8.6bn (£6.2bn).

The fast fashion group, which owns Zara and Pull & Bear among others, opened 230 stores in 48 markets during the period, bringing the group’s total number of stores to 6,913.

The company said it had generated 13,079 new jobs worldwide over the past 12 months, 3,291 of which were in Spain. Inditex employs 146,478 people worldwide.

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