Inditex Profits Up, but Sales Decline in Q3

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.