Zara-owner Inditex reports 18% rise in Q1 net profit
[MADRID] Inditex, the world's biggest fashion retailer, reported on Wednesday a 18 per cent rise in first-quarter net profit from the year before to 654 million euros (S$1.015 billion), in line with analysts' forecasts.
The Spanish owner of fashion label Zara said earnings before interest, tax, depreciation and amortisation (Ebitda) in the first quarter of its 2017 fiscal year were 1.1 billion euros, up 17 per cent year-on-year and slightly above forecasts.
Sales at constant exchange rates from Feb 1 to June 3 rose 12 per cent year-on-year, the company said.
REUTERS
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Consumer & Healthcare
Toymaker Hasbro posts quarterly profit beat, slower sales decline
Hilton lifts 2024 profit forecast on international travel demand
China knockoff raid jolts a global throng of fake-fashion influencers
Roche cuts pipeline after research setbacks and sales drop
Cordlife customers push for legal action
Apparel company Express seeks quick bankruptcy sale