Inditex SA reported its highest profitability in a decade as the Zara owner offset inflation with tight cost control and kept attracting shoppers even as prices rose.
Operating income rose 82% in the three months through April, exceeding pre-pandemic levels, the company said Wednesday, and gross margin reached a 10-year record. The stock rose as much as 5.3% as of 1 p.m. in Madrid, the most intraday in three months.
