Business

Zara-owner Inditex profits from Asian expansion

Zara shopfront
Image caption Global expansion is helping to drive increased sales

The world's largest clothes retailer, Inditex, has beaten forecasts by reporting a 10% rise in profits, helped by expansion in Asia and online sales.

The owner of the Zara fashion chain said net income for the first nine months of the year was 1.3bn euros ($1.69bn; £1.09bn) up from 1.17bn euros last year.

Net sales rose by 10% to 9.7bn euros.

The company said it was not raising prices and its plan for opening more stores was "on track".

Inditex said it had launched Zara in Taiwan, South Africa and Azerbaijan, demonstrating its global retail power. It also began online sales in Japan in the last financial quarter.

Inditex's other brands include Pull&Bear, Massimo Dutti and Bershka.

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