LONDON — Spanish retail giant Inditex saw its first-half net profit climb 7.5 percent to 1.26 billion euros, or $1.41 billion, on the back of a double-digit increase in sales.
Sales in the six months from Feb. 1 to July 31 were up 11.1 percent to 10.47 billion euros, or $11.73 billion, with like-for-like sales advancing 11 percent, and those in local currencies growing 16 percent.
All figures have been converted at average exchange rates for the six-month period.
In the first half, new stores opened in 38 markets, while the outlook for the second half is bullish.
Store and online sales in local currencies were up by 13 percent in the Aug. 1 to Sept. 18 period. The company said global online-sales launches are on track, with Inditex opening online sales for all its fashion retail concepts in Turkey in October.
At the end of the first half, Inditex operated 7,096 stores in 91 markets. Sales at Zara and Zara Home grew 13 percent and 17 percent, respectively, while other brands, such as Bershka and Massimo Dutti, grew in the single digits.