Zara owner reports first half sales rise
Inditex, the owner of Zara, Massimo Dutti and Pull & Bear, has reported that sales rose 6% to 7.7 billion in the first half of 2013 as the Spanish retail giant continued to expand its number of stores.
The group said that net profit was €951 million compared to €944 million in the first half of 2012 while like-for-like sales growth was 2%.
During the period, Inditex opened 95 stores around the world bringing the total to 6,104 stores in 86 markets. Openings included Pull & Bear’s first store in Germany, the first Zara Home stores in Japan, and a new Zara store in Istanbul in Turkey.
In August, Zara launched its online sales in the Russian Federation, while Massimo Dutti and Zara Home began to sell online in Canada.
In the year-to date,the group has created 10,111 new jobs bringing the number of Inditex employees across all five continents to 122,579.
Giving an update on progress in the third quarter, the group said store sales on a local currency basis had increased by 10% between 1 August and 14 September 2013.
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