Zara owner bucks trend to report record sales

0 Inditex, which is the world’s largest clothing retailer, said group like-for-like sales rose by 4%

The owner of high street fashion giant Zara has rung up record sales and profits after shrugging off currency pressures and tough retail conditions.

Spanish group Inditex reported a 3 per cent rise in net income to €1.4 billion (£1.2bn) for the six months to 1 July – its highest ever half-year result.

The world’s largest clothing retailer said group like-forlike sales rose by 4 per cent and were higher across all regions including Europe and the UK, although this marks a slow-

down on the 6 per cent growth seen a year earlier.

Net sales also reached a milestone, pushing through €12bn for the first time to hit €12.03bn. It also estimates that like-for-like sales growth has picked up pace in the second half so far to between 4 per cent and 6 per cent, as it said its autumn/winter initial collections have been “well received”.

The group’s profits hike comes despite fears over an impact from the stronger euro.