Belfast Telegraph

Zara owner sees profits rise by 26% after strong sales

By Roger Baird

The owner of high street chain Zara, which unveiled a revamped store in Belfast earlier this year, said strong trading across all of its markets led profits to jump by more than a quarter.

Inditex, the world's largest fashion retailing group, added that net profits climbed 26% to €1.16bn (£847m) in the first half of the year, compared to 12 months ago. Like-for-like sales, meanwhile, grew by 7% across the 88 countries the company operates in.

The Spanish-based firm said that the refurbishment of key Zara stores in London's Covent Garden, Hamburg and Mexico City - as well as Belfast - were one of a number of upgrades it had made at what it considered to be "highly strategic locations".

In total, the group, which also owns Massimo Dutti, Pull & Bear and Oysho, opened 94 stores across 35 countries during the period, bringing its total number of outlets to 6,777. In the same period, 24 new Zara stores were launched, and the parent firm added 10,000 jobs, boosting staff numbers to 141,192.

Pull & Bear is the only other Inditex brand with a store in Belfast.

Belfast Telegraph