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    Home »  News »  Business

    Inditex, owner of Zara, sees 9-month net profit rise 27 per cent $2.14 bln

    MADRID - Spanish clothes retailer Inditex, which owns the Zara store chain, has posted a 27 per cent increase in net profit for the first nine months of 2012 as it continued expanding in Asian and North America.

    Inditex said Wednesday that profit for the first nine months rose to 1.65 billion ($2.14 billion) from 1.32 billion in the same period last year. Sales swelled 17 per cent to 11.36 billion.

    Inditex SA said it opened 360 stores during the period, taking the global total to 5,887.

    Founded in 1975 by Amancio Ortega, Inditex operates eight brands including Massimo Dutti, Bershka, Pull & Bear and Oysho.

    Inditex's shares were down 1 per cent at 102.5 in morning trading in Madrid.


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