Inditex’s profits shrink even though the net sales rise for H1

The financial statement of Spanish fashion retailer Inditex SA reported a decline in the first-half profit even though the company’s net sales increased in all of its geographic markets. Even though for the first half, net income decreased to 928 million Euros from 951 million Euros last year, the first-half net sales increased by 6 per cent to 8.09 billion Euros from 7.66 billion Euros in the year ago, with currency fluctuations. Inditex’s stores and online sales in local currencies grew 11 per cent. During the period, Europe generated 45.6 percent of total sales, higher than last year’s 44.6 per cent, while Asian and Spanish share was maintained at 21.7 per cent and 19.3 per cent, respectively and Americas generated 13.4 per cent of total sales.