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As the sale boom continues,Inditex, the Zara-owner, experienced a 54% increase in quarterly profit.

Published: June 9, 2023
Author: Fashion Value Chain

-By pratyasha sarkar

Inditex (ITX.MC), the company that owns Zara, reported a 54% increase in first-quarter profit on Wednesday as sales increased following a successful 2022 in which it outperformed competitors during a cost of living crisis.

They announced a net profit of 1.16 billion euros ($1.24 billion) for the quarter period that ended in April, above the 980 million euros average forecast of analysts in a Refinitiv poll.

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