The Canadian PressMarch 19, 2014 07:46
MADRID - Spanish fashion retailer Inditex, which owns Zara stores, says its profits barely grew in the year to end-January as it continued to invest heavily in new stores globally.
The company said Wednesday net profit during the period was up 1 per cent at 2.38 billion euros ($3.31 billion) as sales rose 5 per cent to 16.7 billion euros.
The company said it invested €1.2 billion euros refurbishing and expanding its stores, offices and logistics platforms. Store numbers increased by 331 to total 6,340, while 8,000 jobs were added, taking the total workforce to 128,313.