Zara owner brushes off heatwaves and Iran war trading pressures as sales jump

Zara owner brushes off heatwaves and Iran war trading pressures as sales jump

Spanish fast fashion giant Inditex said its autumn/winter collections had also so far been ‘very well received’ by shoppers, with sales up 9%.
Spanish fast fashion giant Inditex said the group had been trading in a ‘highly complex global environment’ (Alamy/PA)
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Zara owner Inditex has revealed a jump in first-half profits and a strong start to its third quarter despite searing heatwaves across many of its markets.

The Spanish group, which also owns brands including Bershka and Stradivarius, reported a 7% rise in pre-tax profits to 3.85 billion euros (£3.3 billion) for the six months to July 31.

It saw sales rise 9.2% on a constant currency basis over the first half, with overall revenues up 7.6% at 19.76 billion euros (£16.96 billion).

The fast fashion giant said its autumn/winter collections have also so far been “very well received” by shoppers, with sales up 9% on a constant currency basis between August 1 and September 7, which comes in spite of ongoing heatwaves in Europe and the UK.

Chief executive Oscar Garcia Maceiras said: “These excellent results highlight the extraordinary capabilities of our teams.”

He said the group had been trading in a “highly complex global environment”.

Hot weather and the Iran war have been impacting consumer confidence and spending patterns for many European fashion firms.

Original source Zara owner brushes off heatwaves and Iran war trading pressures as sales jump

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