Inditex, the world's biggest clothing retailer, has reported its first half net profit rose 8 percent from a year ago, beating analysts' estimates. As Laura Frykberg reports, the increase was driven by strong sales as it focuses on flagship stores and its online business.
Business is booming at the world's biggest retailer. First half profit at Spanish company Inditex rose 8 percent from a year ago. After a jump in sales at its flagship stores and online businesses. In the first few weeks of the third quarter alone, sales at its flagship brand Zara increased 13 percent. Driven by the popularity of floral dresses, jumpsuits & oversized sweaters. Zara makes its clothes close to its distribution centres in Spain. Allowing it follow changes in fashion, fast. A method that appears to be working. First half earnings were also up 7 percent to 2.11 billion euros. Fashion may have entered a new season. But Inditex - no doubt - hopes this is one trend that won't change.