Zara owner Inditex posts higher profits / Photo: Martin LELIEVRE - AFP
-
Trapped seafarers traumatised by Gulf fighting: charities
-
European minnows bid to challenge social media giants
-
Red-hot Knicks open 3-0 playoff lead against Sixers
-
At 100th major, Aussie Scott sees best as yet to come
-
Scheffler and McIlroy fancied for PGA Championship title
-
Acting US attorney general pursues Trump grievances at Justice Dept
-
Spirit exit likely to lead to higher US airfares, experts say
-
World Cup to hold trio of star-studded opening ceremonies
-
Defending champ Jeeno grabs three-shot lead at windy Mizuho Americas Open
-
McIlroy says PGA should be open to returns from LIV Golf
-
Im leads Fleetwood by one at Quail Hollow
-
Peru presidential hopeful says electoral 'coup' underway
-
Mexico to cut school year short ahead of World Cup
-
Lens secure Champions League spot and send Nantes down
-
Dortmund down Frankfurt to push Riera close to the edge
-
Costa Rica's new leader vows 'firm land' against drug gangs
-
Messi says Argentina up against 'other favorites' in World Cup repeat bid
-
Global stocks diverge, oil rises as fresh US-Iran clashes hit peace hopes
-
Ailing Djokovic falls to early Italian Open exit ahead of Roland Garros
-
Costa Rica leader sworn in with tough-on-crime agenda
-
UK PM Starmer vows to fight on after local polls drubbing
-
Formula One engines to change again in 2027
-
Djokovic falls in Italian Open second round to qualifier Prizmic
-
NFL reaches seven-year deal with referees
-
Real Madrid fine Tchouameni and Valverde 500,000 euros over bust-up
-
Hantavirus scare revives Covid-era conspiracy theories
-
Report revives speculation China Eastern crash was deliberate
-
Allen ton powers Kolkata to fourth win in a row in IPL
-
Zarco dominates Le Mans qualifying as Marquez struggles
-
'Worst whistle' - Lakers coach blasts refs over LeBron treatment
-
French couple from virus-hit ship describe voyage as 'unlikely adventure'
-
Van der Breggen soars into women's Vuelta lead with stage six win
-
WHO says hantavirus risk low as countries prep repatriation flights
-
Stocks diverge, oil rises as fresh US-Iran clashes hit peace hopes
-
Zverev and Swiatek move into Italian Open third round
-
Celtic driven by fear of failure in Hearts chase, says O'Neill
-
Selling factories to Chinese partners: risky road for European carmakers
-
Rubio urges Europeans to share the Iran burden
-
France's Magnier sprints to victory in crash-hit Giro opener
-
Is there anybody out there? Pentagon releases secret UFO files
-
US job growth beats expectations but consumer confidence at all-time low
-
US fires on Iran tankers as talks hang in balance
-
German sports car maker Porsche to cut 500 jobs
-
Nuno not focused on own future during West Ham relegation fight
-
US job growth consolidates gains, beating expectations in April
-
Rising fuel prices strand hundreds of Indonesian fishermen
-
US expecting Iran response on deal despite naval clash
-
Stocks diverge, oil steady as fresh US-Iran clashes hit peace hopes
-
Arteta calls for Arsenal focus on 'huge' West Ham clash
-
EU opens door to using US jet fuel as shortages loom
Zara owner Inditex posts higher profits
Zara owner Inditex, the world's largest fashion retailer, posted Wednesday higher profits for the first nine months of its fiscal year despite stiffer competition from low-cost clothing outlets like Shein and Primark.
The Spanish group, which owns other top brands including Massimo Dutti, Pull & Bear and Bershka, posted a net profit of 4.6 billion euros ($5.3 billion) between February 1 and October 31.
Inditex pointed to "satisfactory" sales in stores and online, which rose 2.7 percent to reach 28.2 billion euros for the profit rise.
Inditex CEO Oscar Garcia Maceiras told a news conference sales had a "solid start" to the fourth quarter, rising 10.6 percent in November over the same time last year.
With fast-growing budget fashion retailer Shein taking share at the cheaper end of the market, Inditex's main brand Zara has moved to attract more discerning shoppers and offered more expensive clothing.
Inditex is also improving its logistics to deliver online orders faster than rivals and investing in larger, more modern stores while it shuts smaller shops.
Inditex said it had made "important relocations and refurbishments" at its locations in Osaka, Maastricht and Barcelona.
The company said a major new distribution hub in Zaragoza in northeastern Spain was now operational.
L.Mesquita--PC