Culture

Inditex 9-month Profit Rises; Sales Up 10%

The world´s largest clothes retailer, which operates under brands such as Zara and Bershka, saw earnings rise 6% to €2.34bn for the nine-month period ended October 31. Inditex did not publish its like-for-like sales growth, but said it remained strong. The company reported that its store count reached 7,504 with a footprint in 94 markets, having opened its first stores in Belarus in the third quarter.

Net sales overall climbed 10% to 17.96 billion euros as Inditex expanded in all markets, mostly in Asia, and introduced same-day delivery of online purchases in six cities.

Inditex has become dominant in fast-fashion retailing, building up a supply network and store portfolio that can quickly respond to the ever-changing needs of the consumer.

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This was driven by continued global expansion for the retail giant, opening 212 stores including 60 Zara stores, 13 Pull & Bear stores and 30 Stradivarius stores and bringing its total to 7504 across 52 markets.

"A return to more seasonal weather across Europe has allowed the group to step up top line gains considerably", Jefferies analysts said in a note.

However, October sales had been slower due to relatively warm autumn temperatures.

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