26% jump in half-yearly profits at Inditex

Spanish company Inditex – world’s largest clothing retailer and famous for its most popular clothing chain Zara, riding high on Spain’s economic recovery after a lengthy recession, has reported a 26 per cent increase in net profits at €1.16 billion (US $ 1.31 billion) for the February to July period.

Inditex, which also owns brands such as Massimo Dutti, Bershka, Oysho, Stradivarius and Pull and Bear, said it had expanded its online presence in Hong Kong, Macau and Taiwan. “We are satisfied with the very strong start to the season in terms of both geographies and concepts…, based on the flexibility of our business model,” Inditex Chief Executive Pablo Isla was quoted as saying by Reuters. Additionally, the company has added 100 new stores across 35 markets between February and July, bringing the total count to 6,777.