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


© Reuters. FILEPHOTO: Zara’s logo was displayed in a window in Madrid, Spain on April 7, 2022. REUTERS/Juan Medina/File photo

MADRID (Reuters), – Zara, the fashion giant is now owned by Madrid Inditex (BME) announced Wednesday that its February-April net profit jumped by 80% to $760 million ($812.06m), which was in line with analyst expectations, as pre-pandemic sales exceeded those of the company.

World’s top fast fashion retailer sold 6.7 Billion Euros in sales, which is 36% more than the year before.

Inditex posted a profit (of 734,000,000 euros) and sales (5.93 billion euros in the 2019 period before the coronavirus epidemic struck.

($1 = 0.9359 euros)