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Inditex Profits Up, but Sales Decline in Q3

Earnings beat estimates for the quarter, but sales in home market of Spain a disappointment for operator of Zara.

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PARIS Inditex, the Spanish retailer that runs the Zara chain, on Wednesday reported better-than-expected third-quarter profits but disappointing sales as business cooled in Spain.

 

Net income in the three months through October advanced 27 percent to 432 million euros, or $601.2 million at average exchange, as sales in the period grew 15 percent to 2.59 billion euros, or $3.6 billion, led by store openings in Europe and Asia.

 

For full coverage, see Thursday's issue of WWD.

 

 

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