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Profits jump at Zara-owner Inditex

Zara-owner Inditex saw sales rise 15% in its first quarter of 2012 as profits grew by 30% year-on-year.

For the three months from February 1 to April 30, Inditex, which runs the Zara, Massimo Dutti, Bershka and Pull and Bear chains, generated net sales of €3.4bn (£2.7bn) - a 15% jump compared to the same period last year. Net income rose 30% year-on-year to €432m (£347m).

The group, which has 5,618 stores worldwide, said it plans to launch an ecommerce site for Zara in China in September. During the period Inditex opened 91 new stores with notable openings including a flagship Zara store in New York.

Inditex indicated that sales have continued to increase in the second quarter of the year with sales between February 1 and June 10 increasing by 14%.

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