Zara Owner Inditex Posts Higher Profits [Barron's]
INDUSTRIA DSNO UNSP/ADR (IDEXY)
NASDAQ:AMEX Investor Relations:
inditex.com/investors/investor-relations/share-capital
Company Research
Source: Barrons
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. Advertisement - Scroll to Continue 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. Advertisement - Scroll to Continue Inditex said it had made "important relocations and refurbishm
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