Wednesday, March 15, 2017

Zara Parent Inditex Profit Up as Sales Hit Record High

Image result for zara storefront Inditex SA, the retailer behind the Zara fast-fashion chain, on Wednesday reported a 10% jump in full-year net profit on record-high sales, and signaled it will speed up closures of smaller stores to open bigger ones that together with online can attract more customers.

The largest fashion retailer in the world by sales said net profit for the year ended Jan. 31 rose to €3.16 billion ($3.36 billion) from €2.88 billion. Sales increased 12% to €23.31 billion.. . . more

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