Top Stories

Sep 21, 4:01 AM EDT

Strong sales lift 6-month profit for Spanish owner of Zara

MADRID (AP) -- Spanish fashion retailer Inditex, which owns the Zara stores, says surging sales lifted net profit for its fiscal first half of 2016 by 8 percent.

Inditex said profit for the February through July period was 1.26 billion euros ($1.41 billion), compared with 1.17 billion euros for the same period last year.

Revenue was up 11 percent at 10.47 billion euros, compared with 9.42 billion euros for the six-month period in 2015.

The company's shares were up nearly 1 percent at 33 euros in Wednesday morning trading in Madrid.

Inditex says it opened 83 new stores in 38 countries for a total of 7,096 outlets.

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

© 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Learn more about our Privacy Policy and Terms of Use.

  • 490 First Avenue South
  • St. Petersburg, FL 33701
  • 727-893-8111