Inditex said profit for the February through July period was 1.26 billion euros ($1.41 billion), compared with 1.17 billion euros for the same period a year ago.
Advertisement
Sales jumped from €9.4bn to €10.5bn, an increase of 11%.
Zara owner Inditex has enjoyed a profit boost, during a period when many of its high street rivals have struggled.
“All of the group’s brands increased their worldwide presence during the period, with 83 new stores in 38 countries”, Inditex said in a statement, adding that it ventured into three new markets – Aruba, Paraguay and Nicaragua.
Led by Zara, Inditex has shifted its focus to opening larger stores in prime locations, including a new store spread across five floors in the Galician city of La Coruña, close to the group’s headquarters.
Inditex added that, over the past 12 months, it has created nearly 10,000 new jobs, of which 2,421 were in Spain.
Now the world’s biggest clothing retailers, Inditex owns companies Massimo Dutti and Bershka alongside Zara.
Advertisement
“Both our online and bricks-and-mortar stores are seamlessly connected, driven by platforms such as mobile payment, and other technological initiatives that we will continue to develop,”chairman and chief executive Pablo Isla said”. Today Ortega is the world’s second richest man, with a fortune of $72.3bn, according to Forbes.
