Retail news round-up: Zara owner reports surge in profits and Mulberry's bags increase its sales and profits.
Zara owner Inditex reports surge in profits
Zara owner Inditex has reported a 14% increase in sales to €5.6bn (£4.93bn) in the three months to April, The Telegraph reports.
Net profit increased 18% to €834m (£733.96m) in the first quarter.
The clothing retailer, which owns the Massimo Dutti, Pull & Bear and Bershak brands, had opened 30 new stores during the year, with 7,085 shops around the world.
Mulberry’s affordable bags boost its sales
Mulberry has reported a 21% increase in pre-tax profit to £7.5m in the year to March 31, The Times reports.
The fashion firm’s sales increased 8% to £168.1m
The boost in sales was owing to a high demand for a new range of affordable bags, designed by creative director Johnny Coca.
Online sales increased 19% accounting for 15% of the revenue.