Zara parent Inditex sees retail profits surge to €2.8 billion as its new collection lures more shoppers [Yahoo! Finance]
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Source: Yahoo! Finance
The Spanish group said its profit rose 10 percent to €2.8 billion ($3.1 billion) in the first six months of its financial year, which ends July 31. "The design and quality of our fashion proposition and the experience we offer our customers are, together with the efficiency and increasing sustainability of our operations, the keys to the solidity of these results," Inditex chief executive Oscar Garcia Maceiras said in a statement. Inditex, which also owns Pull&Bear, Bershka, Massimo Dutti, and Stradivarius, said its spring and summer collections were "very well received" by customers. Sales increased by 7.2 percent to €18.1 billion, a slower pace than in the first six months of 2023, when they grew by 13.5 percent. Analysts, however, had expected the slowdown after four years of record earnings. The group's net profit was close to expectations from analysts surveyed by financial data firm FactSet. The Spanish company has had a good year so far. In March, Inditex's shares su
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