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Spain's Inditex increases profits by 8 pct in first semester

Xinhua, September 22, 2016 Adjust font size:

Textile group Inditex increased profits by 8 percent in the first semester of its fiscal year to a total of 1.26 billion euros (1.41 billion U.S. dollars), the company reported on Wednesday.

The world's largest clothing retailer increased their sales by 11 percent to a total of 10.47 billion euros. Sales in Europe (without taking into account Spain) accounted for 43 percent of the total, Asia represented 25 percent and America 15 percent.

According to the company, 9,932 new jobs were created over the last 12 months. The firm also opened 83 stores in 38 countries, leading to a total of 7,096 stores in 92 markets.

In Spain, the company said that sales had increased by 8 percent in the first semester of the company's fiscal year. Meanwhile, it created 2,421 job opportunities over the past year in its home country.

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

According to Forbes magazine, Inditex founder Amacio Ortega became the world's wealthiest person in September, overtaking Microsoft's founder Bill Gates. Endit