By Christopher Bjork
MADRID--Zara store owner Industria de Diseño Textil SA on
Thursday said sales were accelerating into the Christmas holiday
season, as it reported a small rise in profit and sales during the
first nine months of the year.
The Arteixo, northwestern Spain-based retailer said net profit
rose to EUR1.69 billion ($2.1 billion) between Feb. 1 and Oct 31,
compared with EUR1.67 billion a year earlier. Inditex's sales grew
7% to EUR12.71 billion.
The company had in recent quarters seen profit and sales
squeezed by weakening currencies in some of its largest markets
outside Europe. That effect is starting to wane, though currencies
in some big markets such as Russia continued to fall against the
euro in the period.
Inditex said sales in the first five weeks of the fourth quarter
accelerated compared with the rest of the year. Store and online
sales in constant currencies grew 14% between Nov. 1 and Dec. 8, up
from a 10.5% growth rate in the first nine months.
Inditex opened 230 stores in the first nine months, taking the
total count to 6,570 stores in 88 countries on five continents.
Write to Christopher Bjork at christopher.bjork@wsj.com
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