Zara’s new stores pay off for owner Inditex as sales boom

INDITEX, the Spanish owner of clothing store Zara, seems to be defying the European economic downturn, yesterday revealing a 27 per cent rise in profits since the beginning of 2012.

Net profit in the nine months to 31 October was €1.65 bn (£1.34bn), while sales have gone up by 17 per cent to €11.4 bn, giving Inditex its highest quarterly margin in the company’s history.