Inditex's profits flatten for first time in 13 years

Inditex, the Spanish fashion giant behind Zara, has reported a flattening in its profits for 2013.

The world's largest clothing retailer said net income for the 12 months to the end of January rose by just 1% to 2.4bn euros ($3.3bn; £2bn).

Inditex owns eight chains, including Massimo Dutti, Bershka and Pull and Bear, across five continents.

The firm was hit by refurbishing costs and weakening currencies, as Victoria Fritz reports.

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