• Net profits up 8% to €1.26bn
  • Total sales rise 11% to  €10.47bn between February 1 and the end of July
  • Like-for-likes jump 11%

Spanish fashion retail giant Inditex has reported a rise in first-half profits and sales as it continues to grow its global store network.

Net profits in the six months to July rose 8% to €1.26bn (£1.08bn), the Zara owner said.

Like-for-likes jumped 11% as total sales rose 11% to €10.47bn (£9bn).

Inditex, which has gone from strength to strength on the UK high street in recent years, generated 60% of its sales in Europe. Of that 60%, 17 percentage points came from its homeland of Spain. America contributed 15% while Asia and the rest of the world made up the remaining 25%. 

Store openings continued apace across the globe, with the fashion giant opening 83 new stores in 38 markets. It closed the first half with 7,096 stores globally, up from 6,777 this time last year. It now has a presence in 92 countries following the opening of a flagship Zara store in Vietnam this month.

Zara and Zara Home led those openings, with Inditex setting up 19 new Zaras and 22 Zara Homes. Youthful fascia Pull & Bear followed at 17, with Stradivarius at 12.

Inditex also opened nine Massimo Dutti and Bershka stores and eight Oysho stores. It closed two Uterque stores, and has only 70 worldwide.

Inditex said current trading was strong, with sales increasing by 13% in local currencies from August 1 to September 18.

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