Zara UK full-year profits halved despite sales rise
Inditex-owned Zara UK has posted tumbling full-year profits despite sales increasing.
Zara UK registered a 10% jump in full year sales from £704.8m to £772.5m. However pre-tax profits for the year fell from £51.8m to £22.3m according to The Mail on Sunday.
Inditex – which also owns Massimo Dutti and Bershka - said its selling and distribution costs increased 7% during the year but it will continue with plans to open more Zara UK stores as opportunities arise.
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