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Wednesday, 14 December 2011 |
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Zara owner Inditex, the world's largest clothes retailer, has beaten forecasts by reporting
a 10% rise in profits, helped by expansion in Asia and online sales.
The Spanish owned company said net income for the first nine months of the year was 1.3bn euros ($1.69bn; £1.09bn) up from 1.17bn euros last year.
Net sales rose by 10% to 9.7bn euros. The company said it was not raising prices and its plan for opening more stores was "on track".
Inditex said it had launched Zara in Taiwan, South Africa and Azerbaijan, demonstrating its global retail power. It also began online sales in Japan in the last financial quarter.
Inditex's other brands include Pull&Bear, Massimo Dutti and Bershka.
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