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Inditex posts 32% profit growth

Zara parent Inditex saw net profit rise 32% in its first half as like-for-like sales rose by 7%.

In the period from February 1 to July 31 net profit grew 32% to €944m (£758m) as sales rose 17% to €7.2bn (£5.8bn).

During the first six months of the year the group opened 166 stores, meaning Inditex now operates 5,693 stores in 85 markets.

The openings included a Zara store on Fifth Avenue in New York, which debuted the retailer’s new retail concept. At the end of the first half, Inditex had 112,468 employees, 9,267 more than a year earlier.

Since the end of the period sales have continued to rise, increasing by 17% between August 1 to September 17.

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