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Zara and Stradivarius big hit in fashion charts as sales soar

By Staff Reporter

The owner of fashion chains Zara and Stradivarius has seen sales rise 11% in the first nine months of the year as the company remains firmly in fashion with shoppers.

Spanish retailer Inditex, which has a large Zara store and Stradivarius outlet in Belfast, notched up revenues of €16.4bn (£13.7bn) during the period, resulting in a 9% rise in net profits to €2.2bn (£1.8bn).

Tom Gadsby, analyst at Liberum, said: "Encouragingly, trading at the start of the fourth quarter has improved further, while new space and online launches are progressing as planned.

"Few other major clothing retailers can match the mid-teens percentage sales growth that Inditex has achieved in difficult global markets this year, while the company's clear focus on achieving full price sales underpins high and stable margins."

Inditex is the world's biggest clothing retailer.

It also owns Massimo Dutti and Bershka.

It opened its first store in Vietnam in Ho Chi Minh City in September, and made its debut in Auckland, New Zealand, in October.

The group now operates 7,240 stores in 93 markets.

Zara is a brand of fast fashion that has made it into the wardrobes of, among others, the Duchess of Cambridge and pop singer Gwen Stefani.

Its success among both celebrities and the public has turned it into one of the world's largest fashion brands.

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