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Inditex, Zara's parent company, reports strong annual sales growth but sees slower first-quarter gains.
Zara's parent company, Inditex, reported fourth-quarter sales of €11.2 billion, meeting analysts' expectations and marking a year of strong growth with a 10.5% increase to €38.6 billion.
However, first-quarter sales showed a slower pace, growing only 4% compared to last year's 11%.
Inditex plans to spend €1.8 billion on store refurbishments and technology improvements and aims to expand into Iraq, Sweden, Germany, and the Netherlands.
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Inditex, la empresa matriz de Zara, reporta un fuerte crecimiento anual de las ventas, pero ve ganancias más lentas en el primer trimestre.