MADRID--Spanish retailer Inditex SA's (ITX.MC) nine-month net
profit rose 1% on year as the company opened more stores and online
operations in Russia, it said on Wednesday.
Net profit in the nine months ended Oct. 31 rose to 1.67 billion
euros from EUR1.66 billion in 2012, the owner of Zara stores and
Spain's largest company by market value said. Inditex's fiscal year
ends Jan. 31.
Sales rose 5% to EUR11.93 billion euros and were weighed down by
currency effects. Sales would have been up 8% without these. Sales
excluding the impact of currency fluctuations between Nov. 1 and
Dec. 8 increased 10%--an indication growth is accelerating, the
company added.
Inditex plans to open around 500 new stores for the full
year--roughly in line with previous estimates. As of Oct. 31
Inditex had 6,249 stores world-wide--up from 5,887.
It also plans to launch online Zara stores in Mexico and South
Korea in the next fiscal year, the company said.
Write to David Roman at david.roman@wsj.com
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