Inditex boosts earnings by 10 percent in first nine months
Giant fashion retailer continues to expand outside Spain
Spanish fashion retailer Inditex on Wednesday reported a 10-percent rise in its net profit in the nine months to October to 1.302 billion euros as it continued to expand outside Spain.
Net sales also climbed by 10 percent to 9.709 billion euros. It continued the momentum at the start of its fourth quarter when revenues climbed 11 percent between November 1 and December 11.
"The bottom-line illustrates Inditex's strong margin control and defensive nature in a very difficult environment," Bloomberg quoted Société Générale analyst Anne Critchlow as saying. Inditex's shares closed up 1.70 percent.
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