Zara owner Inditex hails 'record sales'

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The world’s biggest fashion retailer Inditex has posted record first-quarter sales bolstered by the “strong momentum in the digital transformation”.

The fashion retailer, which owns the likes of Zara, Pull & Bear and Massimo Dutti, posted 5% year-on-year sales growth to €5.93bn (£5.28bn) in the three months to April 30.

The group posted a 49% surge in EBITDA to €1.7bn (£1.5bn) for the same period as net profit increased 10% to €734m (£653m).

During the quarter, Zara.com was launched in Brazil and the group introduced its online platform in Morocco, Egypt, Lebanon, Israel, Serbia, Indonesia, the UAE and Saudi Arabia.

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