Growth slows at Zara owner

Kasmira Jefford
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INDITEX, the Spanish owner of Zara and Massimo Dutti, posted its weakest quarterly profit growth in four years yesterday, after tough comparatives on last year and an unusually cold spring dampened sales.

The group posted a two per cent rise in net profit to €438m (£373m) in the first quarter of the year to 30 April on sales up 5.2 per cent to €3.59bn.

It opened a net 49 stores in 30 countries, taking its estate to 6,058.