Zara owner Inditex posts record profit; H&M net sales rise

Zara owner Inditex posts record profit

Zara owner Inditex posts record profit; H&M net sales rise

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Zara Owner Inditex Reports Record Profit on Christmas Sales

Inditex SA surprised investors with a plan to significantly increase spending on new stores and e-commerce despite closing more than 1,000 shops over the last three years and amid a wider market slowdown in online growth.

Zara owner Inditex reports record profit on Christmas sales

Meanwhile, H&M, the world's second-biggest fashion retailer, reported on Wednesday a 12% increase in December-February net sales while, measured in local currencies, sales were up 3%.

Zara owner Inditex releases annual profits, record turnover, surplus ｜ DPA

The clothing group Inditex, which owns Spanish retailer Zara, reported its annual profits on Wednesday, with turnover and operating profit surging but overall profits not quite meeting analysts' estimates. Inditex recorded a profit before tax of €5.358 billion ($5.7 billion) for the full year, compared to €4.199 billion, driven by a growth in sales post-pandemic. On balance, the company earned €4.1 billion, 27% more than in the previous year. Sa…