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Zara group posts 1 pct first-half profit growth

Wednesday - 9/18/2013, 7:40am  ET

MADRID (AP) -- Spanish clothes retailer Inditex, which owns the Zara store chain, has posted a first-half net profit increase of 1 percent as sales grew and new shops opened.

Inditex said Wednesday profits from February through July reached 951 million euros ($1.3 billion) while sales were up 6 percent to 7.7 billion euros

It opened 95 new stores globally during the period, including in Japan and Turkey, for a total of 6,104 stores. The company said it created over 10,000 new jobs, bringing its workforce to 122,579

Founded in 1975 by Amancio Ortega, Inditex operates eight brands including Massimo Dutti, Bershka, Pull & Bear and Oysho.

Inditex's shares were up 0.6 percent at 110.90 euros in morning trading in Madrid.


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