Inditex has announced that net profit rose 14% in the first half of this year as the retailer continued its rapid international expansion away from its home market.
In the first half of the year, the retailer opened stores in Australia and over the next few months Zara will open its first outlets in South Africa, Taiwan, Georgia, Azerbaijan and Peru as well as launch Zara online in Japan on October 20. Sales for the retailer were also given a lift by other online launches.
Inditex stated that net profit for the six months to the end of July rose to E717m (£623m), ahead of expectations. Sales increased 12% to E6.21bn (£5.4bn) while same-store sales were up 6% on the year.
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