Net income rises at Zara owner

Zara owner Inditex has reported a 3 per cent rise in net income to £1.2bn for the six months to July 1.
By The Newsroom
Published 12th Sep 2018, 09:24 BST
Updated 12th Sep 2018, 09:27 BST
A Zara clothing outlet in Covent Garden, central London. Pic: Tim Ireland/PA WireA Zara clothing outlet in Covent Garden, central London. Pic: Tim Ireland/PA Wire
A Zara clothing outlet in Covent Garden, central London. Pic: Tim Ireland/PA Wire

The Spanish retail giant said group like-for-like sales rose by 4 per cent.

It also estimates that like-for-like sales growth has picked up pace in the second half so far to between 4 per cent and 6 per cent, as it said its autumn/winter initial collections have been “well received”.

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Pablo Isla, chairman and chief executive of Inditex, said: “The strong first-half results are the result of a solid sales and operating performance, arising from the unique strength of the group’s integrated and sustainable business model”.