Retail space to increase 20 per cent by year-end
Spanish-based retail giant Inditex has unveiled strong interim results this morning and announced plans to expand retail space by up to 20 per cent by the end of the year.

The group, which operates eight brands, including Zara and Pull and Bear, said that like-for-like sales for the first half grew by 5 per cent and EBITDA over the six months from February 1 to July 31, soared by 17 per cent to 605 million (£407.2 million).

The group said it plans to increase retail space by opening up to 490 stores over the course of the full year, including up to 150 Zara stores, 75 Bershka outlets and 40 Pull and Bear stores.

Net sales across the group hit E3.48 billion (£2.34 billion), 23 per cent higher than the comparable period. International sales accounted for 60 per cent of total group sales. European stores, excluding Spain, made up 39 per cent of total store sales.

Inditex said that initial autumn/winter collections across the group had been well received. Inditex operates Massimo Dutti, Bershka Kiddy's Class, Stradivarius, Oysho, Zara Home, Zara and Pull and Bear. The group said interim nine month results will be published on December 13.