Inditex, Zara's parent company, reports slower sales growth but remains optimistic for future gains.
Inditex, owner of Zara, reported slower-than-expected sales growth of 7% in the third quarter, with sales reaching €27.4 billion and a net profit of €4.44 billion for the first nine months of 2024. Despite a 6% drop in shares, the company saw a strong start to the holiday season with revenues up 9%. Inditex attributes its overall success to its integrated store and online model and the creativity of its teams. The company remains optimistic about future growth, focusing on sustainability and customer experience.
4 months ago
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