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Inditex Q1 profits up 30% Wednesday, 13th June 2012
Zara's Barcelona store Photo credit: Inditex Group
The Zara, Massimo Dutti and Bershka owner said net profits rose 30 per cent to EUR 432 million in its first quarter to 30 April.
As the world’s largest retailer, Inditex embarked on an aggressive expansion plan during the period, opening nearly one store a day as it looked to take the pressure off its domestic Spanish market by investing elsewhere.
Sales rose 15 per cent to EUR 3.4 billion, thanks to new stores in Georgia, Bosnia and Ecuador. The apparel retailer will also launch its Zara brand online in China for September.
Inditex now operates 5,618 stores across 84 countries.