Inditex Reports 9% August Sales Growth and Expands Lefties in Europe
Inditex, parent of Zara, reported sales rising 9% in August and €11 billion in second-quarter sales, despite Europe’s extreme heat affecting consumers in its biggest market. The company cited high energy prices and weaker confidence amid geopolitical tensions. It plans to grow its budget brand Lefties in the UK and Germany and increased gross profit to €11.6 billion with a 58.7% margin.