Inditex's net profit rises to 3.1 billion euros ($3.3 billion) during the first nine months of its fiscal year.
posted a 24% increase in net profit for the first nine months of its fiscal year, as price rises helped offset weakening global demand for clothing.
Net profit for the quarter was up 6% to 1.3 billion euros, in line with market forecasts according to IBES data from Refinitiv.The company has outperformed some rivals since Marta Ortega, the daughter of founder-owner Amancio Ortega, took the helm as non-executive chair in April. Speaking to analysts on a conference call, Inditex chief executive Garcia Maceiras cited a strong performance in the United States and said the company was confident about its prospects in China in the medium and long term.
H&M, which has struggled to compete with its bigger rival Zara, will report results on Thursday, December 15.
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