Spanish owner of Zara posts 20 pct rise in 9-month profit

AP News
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Posted: Dec 10, 2015 3:38 AM

MADRID (AP) — Spanish clothes retailer Inditex, owner of the Zara store chain, says net profit for the first nine months of its 2015 financial year was up 20 percent thanks to increased sales.

Inditex said in a statement Thursday that profit for the February-October period was 2 billion euros ($2.2 billion), compared with 1.7 billion euros for the same period last year.

Revenue was 14.7 billion euros, up 16 percent for the same nine-month period of 2014.

Inditex says it opened 230 new stores in the period, making for a total store count of 6,913.

It says it created more than 13,000 jobs worldwide over the past 12 months and now has 146,478 employees.

Inditex shares were down 0.3 percent at 32.41 euros Thursday morning in Madrid.