SPAIN: Inditex Q1 Profit Jumps To $63m
Spanish fashion giant Inditex, owner of the hugely successful Zara clothing label and fast-growing retail chain, on Friday posted a 32 per cent jump in first quarter net profit to 66.8 million euros ($63m) compared to the year-ago period. The Galician-based company said in a news release that sales rose 28 per cent to 850.4 million euros in the 13 weeks to April 30 thanks to the opening of 53 new stores and solid growth in like-for-like sales.
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