Zara owner Inditex boosts profitability despite strong euro

By Sonya DowsettMADRID (Reuters) - Inditex, the world's biggest clothing retailer and owner of fashion brand Zara, reported improved profitability on Wednesday for the first three months of its financial year despite the dampening impact of a strong euro.

However, sales in the first quarter were weighed down by negative currency effects and unseasonably cold weather in Europe meaning the quarterly growth rate was a mere 2 percent, lower than rates booked during the financial crisis.Sales for the first six weeks of the second quarter were more.....

This article is no longer available in our repository.

There could be multiple reasons for this.