Inditex Earnings Show Growth as Rivals Such as Gap Falter
- Zara owner’s sales gains fueled by aggressive online push
- CEO Pablo Isla says sales are on track to reach full-year goal
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Inditex SA reported higher earnings and sales as the owner of the Zara apparel chain expands e-commerce at a breakneck speed while rivals such as Gap Inc. falter in a weak clothing market.
Though cold and rainy weather weighed on the Spanish company’s first-quarter sales, revenue rose 9.5% in local currencies at the start of the second quarter, showing how Inditex can bounce back from a slowdown thanks to its quick reaction times.