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Spain's Inditex increases profits by 28 pct between February, April

Xinhua, June 11, 2015 Adjust font size:

Textile group Inditex increased profits by 28 percent in the first quarter of its fiscal year to a total of 521 million euros (589 million U.S. dollars), Zara's owner company reported on Wednesday.

The company increased their profits by 28 percent between February and April when compared with the same period of a year earlier when profits stood at 406 million euros.

The world's largest clothing retailer increased their sales by 17 percent to 4.374 billion euros and reported a total of 8,500 new job opportunities created in their stores, 1,600 jobs of them in Spain.

By the end of the first quarter Inditex had 6,746 stores in 88 different markets as the company opened 63 new stores in 27 countries. Zara will open new stores in China, Russia and Germany between May and June.

Inditex operates eight brands including Zara, Massimo Dutti, Bershka, Pull&Bear, Stradivarius, Oysho, Zara Home and Uterque.

His founder, Amacio Ortega, passed investor Warren Buffet to become the world's second-richest person according to the Bloomberg Billionaires Index published at the beginning of June. (1 euro = 1.13 U.S. dollars) Endit