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Zara owner Inditex posts revenue rise

Zara parent Inditex’s has reported sales growth of 5% during its 2013 financial year, as profits rose 1%.

The Spanish fast-fashion group, which runs the Zara, Massimo Dutti, Bershka and Pull and Bear chains, grew sales to €16.7bn (£14bn) as like-for-like revenues rose 3% in the year to January 31. Net profits increased to €2.4bn (£2bn).

During the year Inditex created 8,000 new jobs, increasing the global headcount to 123,313 as of January 31. The group also opened a net 331 stores across 61 markets bringing the store count to 6,340. Inditex invested €1.2bn (£1bn) as it refurbished and expanded its store portfolio as well as its head offices and logistics platforms.

Since the end of the period revenues have continued to rise with store sales in local currencies increasing by 12% between February 1 and March 15.

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