Zara’s parent company Inditex has revealed flat global profits for the half-year to July 31, as it opened stores and invested more than €450m.
The fashion group, which also owns Pull & Bear, Maximo Dutti and Bershka, revealed EBITDA was €1.6bn, while net profit edged up 1% to €951m.
Net sales at the group jumped 6% to €7.7bn, although this rises to an 8% increase in local currency terms. In addition, global like-for-like sales increased 2% .
More recently, in the third quarter to September 14 store sales in local currency terms surged 10%
Inditex opened 95 stores in the half-year period, bringing its total store count to 6,104 across 86 markets. Pull & Bear launched its first store in Germany, while Zara Home opened its first Japanese stores. Inditex also opened Bershka stores in Japan, Singapore and Shanghai, China.
Inditex also refurbished some of its key Zara flagships, including London’s Brompton Road.
In the next six months Zara plans to launch Zara Home in Sweden, while it also wants to open prominent stores in Paris and Barcelona.
In the first six months of the year Inditex invested more than €450m in the commercial and logistics areas of the business, creating 1,500 jobs in Spain.