Zara owner Inditex saw profits soar to almost €7 billion (£6 billion) as the Spanish-founded chain continues to dominate while rivals in the fast-fashion sector struggle.
The business reported sales just short of €36 billion. That suggests Inditex is still on top of the low-cost fashion world as it fends off the challenge of cheaper Chinese rival Shein, which has been looking at a possible blockbuster London IPO. Profits were up 28% at €6.9 billion, with €5 billion coming from Zara alone.
