The Spanish clothing group Inditex, with well-known chains such as Zara, Bershka and Pull & Bear, maintains its forecast for sales growth in the current broken financial year, despite the negative effects of bad weather in the second half of the past quarter.
Inditex sticks to its prediction for comparable growth of 4 to 6 percent. In the quarter ended April, sales increased by 5 percent to 5.9 billion euros compared to a year earlier. Inditex suffered from bad weather in a number of markets in the past period, but sales have since recovered. Net profit increased by 10 percent to 734 million euros.
In May it was announced that CEO Pablo Isla should be succeeded next month by operational director Carlos Crespo. Isla will then fill the position of executive chairman.
Lesley Woutersen, one of the co-founders of the EconomicInform gives away all of his free time to the project. He is interested in stock exchange and digital assets. Lesley can be reached by lesley.woutersen@economicinform.com.
