Zara owner Inditex on Wednesday reported that operating profit in the first half of the year rose 8% to 1.61 billion euros ($1.8 billion), beating expectations; analysts cited by Bloomberg expected profits to reach 1.58 billion euros.
Inditex’s net sales in the first six months of 2016 increased by 11% to €10.47 billion, with positive growth in all geographical areas it operates, the company said. Sales in local currencies grew 16%. Same-store sales in the period grew by 11%, up from the 7% growth over the same period in 2015. Early in the second half, between Aug. 1 and Sept.18, sales in local currencies in stores and online have grown 13%, the company said.
