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Inditex profits jump after rapid expansion

Inditex, the group behind chains including Zara, Massimo Dutti, Bershka and Pull and Bear, said profits increased 42% to €1.2bn (£994m) in the nine months to October 31.

Net sales were up 14% to €8.9bn (£7.5bn) over the period and EBITDA jumped 33% to €2.1bn (£1.7bn).

The Spanish fashion giant has rapidly expanded its portfolio over the past nine months with 300 new stores opening in 45 countries, most notably in Asia where it has opened 42 stores in China and 8 Zara stores in both Japan and South Korea.

Inditex’s venture into online in Europe during the third quarter has also boosted sales. Zara.com launched during the period across six European countries including the UK.

Inditex last week opened its 5000th store when the new eco-efficient Zara store opened in Rome.

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