Zara owner's focus on online platform delivers profit hike

Prime: Inditex has moved outlets into larger spaces

Henry Sackler-Clark

The owner of Zara has seen profits surge as the fashion retailer shrugged off the demise of the UK high street. Inditex, the Spanish owner of the chain, said an increased focus on its online platform helped to cut costs and boost profitability over the first three quarters of 2019.

The retail group said that gross profits increased 8pc to €11.5bn for the nine months to October 31. Sales across the group jumped 7.5pc to €19.8bn, with trading steady across the period.