WWD.com/beauty-industry-news/financial/inditex-profits-up-but-sales-decline-in-q3-1027323
financial
financial

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.

By

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.