Owner of Zara stores sews up a profits leap

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The Independent Online

The Spanish group behind the fashion giant Zara has grown its profits by more than a quarter, driven by a sharp uplift in sales from a rapid store opening programme.

Inditex, which also owns the Pull & Bear, Massimo Dutti and Bershka chains, added 360 stores in 54 countries in the last nine months, including its first in Armenia and Macedonia. The group posted a 27 per cent uplift in net income to €1.66bn (£1.34bn) in the nine months to 31 October, on sales up 17 per cent to €11.36bn.