Inditex profit jumps 18 per cent as sales soar

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Inditex, the world’s biggest fashion retailer, has reported 18 per cent surge to €654 million for the first quarter, as sales rose by 14 per cent to €5.5 billion.
The Spanish group, which owns eight retail chains including Zara, said sales rose 14 per cent to €5.57 billion compared with the same period last year. The margin was up slightly, from 58.1 per cent a year ago to 58.2 per cent now.
Inditex said it launched Zara online platforms in Malaysia, Singapore, Thailand and Vietnam, and that India would follow later this year. The group has an online presence in 44 countries and is expected to expand its virtual offering.
Online growth has helped Inditex to consistently outperform rivals such as H&M in recent years as its fast-fashion model allows it to quickly replicate the latest runway trends into stores in weeks.
While the company also owns brands such as Massimo Dutti and Bershka, Zara accounts for two thirds of group sales.
Inditex opened 30 stores in the quarter and now has 7,385 outlets in 93 countries.

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