Inditex Profit Boosted by Weak Euro

MADRID—Industria de Diseno Textil SA, the retailer behind the Zara fast-fashion, chain posted a 26% increase in net profit for the first half of its fiscal year amid surging sales that were helped by a weaker euro.

Inditex, as the company is commonly known, based in Arteixo, northwest Spain, said net profit for the six months ended July 31 rose to €1.17 billion ($1.32 billion) from €928 million a year earlier. Sales grew 17% to €9.42 billion.

Like-for-like sales, a metric that doesn't include new stores, rose 7% in the first half. The company opened stores in 35 markets during the period, bringing its count across 88 markets to 6,777.

The company said sales in local currencies are increasing at a strong 16% annual pace in its fiscal third quarter, according to data covering up to Sept. 10.

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September 16, 2015 02:05 ET (06:05 GMT)

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