MADRID Dec 14 Inditex, the world's
biggest clothing retailer and owner of Zara, on Wednesday
reported a 9 percent rise in 9-month profit from a year ago, as
sales continued to accelerate despite a warmer-than-usual autumn
in many European countries.
Inditex's net profit was 2.2 billion euros ($2.3 billion)
for the 9 months from February to October, in line with a
Reuters polled forecast.
As its fashion peers struggle to adapt to changing consumer
tastes, with Abercrombie & Fitch and Gap posting
bleak fourth-quarter sales last month, Inditex's "fast-fashion"
business and online prowess have kept it ahead.
Its core profit, or earnings before interest, tax,
depreciation and amortisation (EBITDA), was 3.6 billion euros,
also in line with a Reuters poll of analysts.
($1 = 0.9395 euros)
(Reporting by Angus Berwick; Editing by Paul Day)