So far, the world’s biggest fashion retailer has shrugged off high inflation, rising energy prices in Europe and a strong dollar. Its competitors look disheveled even before a chilly winter.
Industria De Diseno Textil, commonly known as Inditex and owner of Zara and other brands, grew sales by a quarter in the six months through July at constant exchange rates, versus the same period last year. The company’s half-year gross profit margin was the highest in seven years, boosted by price increases for its products and measures to control costs, and are expected to be stable for the full year. Inditex’s shares were up 5% in European morning trading on Wednesday.
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