Inditex Gains as Zara Owner Signals End to Profit Slowdown
This article is for subscribers only.
Inditex SA rose the most in almost two months in Madrid trading after the world’s biggest clothing retailer signalled an end to slowing profit growth.
Store revenue rose at a faster pace in the first five weeks of the second quarter at constant exchange rates than total sales did in the opening three months of the financial year, Arteixo, Spain-based Inditex said today, after reporting the weakest quarterly profit growth in four years. Profit margins, which narrowed in the first quarter, should stabilize for the rest of the year, the Zara owner said.