• Net sales in first nine months up 6% to EUR7.76bn
  • Net income down 1% to EUR831m
  • Highlights continued expansion in Asia

Fashion retail group Inditex, owner of the Zara brand, posted a slight decline in net income for the first nine months of the year, but said its international expansion remained on track.

The company said its net sales for the nine months to 31 October had risen 6% to EUR7.76bn (US$11.44bn), but some analysts questioned whether the company had hit its targets for like-for-like sales.

EBITDA edged up 1% to EUR1.56bn, but net profit fell 1% to EUR831m, Inditex said.

The company opened 266 new stores during the period, giving it a total of 4,530 retail outlets at the end of October.

Inditex highlighted its continued expansion in Asia, where 90 new shops opened by the end of October.

"These store openings reflect the strategic importance of the Asian markets for the group and underscore a year of robust growth in China, Japan and South Korea," said Inditex, pointing to flagship store openings in Japan and mainland China.