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Inditex posts 27% rise in profits

Zara parent company Inditex posted a 27% rise in profits for the first nine months of the year to €1.66bn (£1.33bn).

Net sales at the company, which owns chains including Zara, Massimo Dutti, Bershka and Pull and Bear, climbed by 17% to €11.4bn (£9.2bn) in the first nine months to October 31.

The group opened 360 stores in the period, boosting the worldwide total to 5,887 stores. The company reached the 6,000 store mark outside the reporting period - on December 5 - when it opened its Zara store at 460-490 Oxford Street.

Inditex created 6,598 new jobs in the first nine months with the group’s workforce totalling 116,110 people on 31 October 2012.

During the period Inditex launched Massimo Dutti’s into North America with the openings of concept stores in New York, Washington D.C. and Canada. Zara also plans to launch its online store in Canada during the spring 13 season.

In the first nine months Bershka launched in Frankfurt, Germany and Uterqüe’s had its first foray into China with two stores.

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