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ZARA’S PARENT COMPANY REPORTS A 5% INCREASE IN SALES

  • Quarterly sales reported at €5.93 billion
  • Profit €734 million
  • Stock 1% up

Industria de Diseño Textil, S.A. (BME:ITX), better known as Inditex, reported a 5% jump in sales to €5.93 billion for the three months, ending 30th April. The owner of popular clothing brands such as Zara, Massimo Dutti, Bershka and Oysho also said it earned €734 million in these three months.

“This is particularly impressive in our view, notably in context of industry data we have so far for May,” JP Morgan commented on results.

Inditex stock trades 1% higher this morning in Madrid.