by Apparel Resources News-Desk
12-September-2019 | 1 min read
Inditex, world’s largest fashion retailer, has posted a strong sales growth in the first half of the current fiscal owing to the intense summer season faced in Europe along with favourable foreign exchange rates.
With net profit of 1.55 billion euros (US $ 1.66 billion) for the period from 1 February to 31 July, sales went up by 7 per cent at 12.82 billion euros aligning well with the analysts’ expectations.
While other retailers are struggling to keep afloat in the market and a lot of retailers have declared bankruptcy, Inditex has managed to grow at steady rates beating out rivals like H&M with increasing focus on omnichannel strategies and consumers’ needs.
Inditex, which also owns brands Massimo Dutti and Bershka, reiterated on Wednesday its sales growth forecast of 4 per cent to 6 per cent for the full year.
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