Zara owner reports profit ahead of expectations, outpaces H&M

Inditex said operating profit rose by 6% to €705 million in the first quarter

15th June, 2016
Inditex shares rose by more than three per cent in Madrid

Operating profit increased six per cent to €705 million in the three months through April, Inditex said. Analysts expected €696 million. Revenue advanced 15 per cent in the first weeks of the second quarter, excluding currency shifts, besting the nine per cent uptick seen by H&M in May.

Inditex shares rose 3.3 per cent in early Madrid trading while H&M gained 1.4 per cent in Stockholm.

‘‘In a market environment where most retailers are...

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