Europe’s largest clothing retail company and the owner of the “Zara” brand, Spain’s “Inditex” worked with a net profit of 2.51 billion euros in the first six months of this business year, thus recording the highest half-year profit ever in the company’s history.
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Inditex’s statement published on Wednesday said that the company’s profit in the first half of the business year, which ended in July, increased by 40%.
Meanwhile, the company’s sales volume increased by 13.5% in the first half of the year – up to 16.85 billion euros.
“Inditex” profits and income have increased, despite the company’s decision to close all 514 stores in Russia, taking into account Moscow’s extended war in Ukraine. Russia was the company’s second largest market after Spain.
Also, “Inditex” explains that there is an increase in production costs, taking into account the increase in transport and energy prices, but the company compensates for this with a gradual increase in prices.
Inditex also owns Bershka, Stradivarius and other brands.
2023-09-13 13:56:42
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