Zara owner Inditex’s quarterly profit jumps 80% on post-Covid wardrobe renewals

2022.06.08 09:06

FILE PHOTO: Zara’s logo is displayed on a window, at one of the company’s largest stores in the world, in Madrid, Spain, April 7, 2022. REUTERS/Juan Medina/File Photo

MADRID (Reuters) – Fashion giant Zara’s owner Inditex (BME:ITX) reported on Wednesday its net profit in the February-April period jumped 80% to 760 million euros ($812.06 million), in line with analysts’ expectations as sales surpassed pre-pandemic levels.

Sales at the world’s largest fast fashion retailer reached 6.7 billion euros, 36% more than a year ago.

In the period in 2019, before the coronavirus pandemic struck, Inditex reported a profit of 734 million euros and sales of 5.93 billion euros.

($1 = 0.9359 euros)

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