Zara’s owner setting records

THE owner of High Street fashion giant Zara rung up record sales and profits, shrugging off currency pressures and tough retail conditions.

Spanish group Inditex reported a 3pc rise in net income to £1.2bn for the six months to July 1, its highest ever half-year result.

The world’s largest clothing retailer said group like-for-like sales were up by 4pc and rose across all regions. Net sales also reached a record figure – £10.7bn.

The fast fashion firm, which also owns Massimo Dutti and Pull & Bear, opened stores in 44 markets in the first half, and now has 7,422.