Retail news round-up: Inditex reports increase in sales, Argos drivers dismiss strike plan and Lego increases its UK prices amid Brexit.

Inditex reports increase in sales

Inditex has reported a 9% increase in net profit at €2.2bn (£1.8bn) for the nine months to the end of October, both in store and online, the BBC reported.

The clothing retailer, which owns Zara, Massimo Dutti, Bershka and Pull & Bear, posted an 11% increase in net sales to €16.4bn compared with same period last year. Zara accounts for two-thirds of its sales.

Velvet dresses, military blazers and mini-skirts helped boost sales 14.5% in local currency terms.

Argos drivers dismiss strike plan

The Unite union has reached an agreement with Wincanton to call off plans for strike action, The Guardian reported.

They will now vote on agreed new pay deal between both the parties, with action potentially taking place before Christmas.

Argos said: "We're pleased that both sides (Wincanton and Unite) have resolved their issues."

"Once again, we'd like to reassure our customers that it's business as usual this Christmas at Argos."

Lego increases its UK prices amid Brexit

Lego is set to increase its prices in the UK by an average of 5% next year owing to the collapse in the value of sterling since the Brexit vote, Sky News reported.

The toymaker company confirmed that it will increase the prices it charges British retailers staring from New Year's Day. However, they said it was up to shops to decide whether to pass on the cost to customers.

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