Zara owner sees profits improve The owner of fast fashion chain Zara has notched up a hike in sales and profits despite suffering pressure on overseas earnings from the strong euro.
Spanish retail giant Inditex - the world's largest clothing retailer - posted a 9% rise in net profit to 1.37 billion euros (£1.22 billion) for the six months to July 31 after seeing global likefor-like sales rise by 6%.
It said profit margins took a knock after the recent strengthening of the euro, especially against the US dollar and pound.
The group is particularly vulnerable to exchange rate movements as it makes more than half of its sales in non-euro currencies, but reports results in euros.
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