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Inditex profits/revenues rises

The world’s biggest fashion retailer Inditex has reported increased revenues and profits amid its Q3 results. In the nine months up to October 31 the Zara owner posted net sales of £15.83 billion, up by 10 per cent as against £12.96 billion a year ago. Profits also jumped nine per cent to £9.08 billion, while gross margins touched 57.4 per cent. Meanwhile, EBIT grew six per cent to £2.64 billion.

This was driven largely by continued international expansion for the retail giant that opening 212 stores, including 60 Zara stores, 13 Pull and Bear stores and 30 Stradivarius stores, bringing the total to 7,504 spanning 52 markets.