Inditex posts strong first half, revenues cross 12 billion euros

Inditex Group net sales increased by 7 percent in the first half of 2019 to 12.82 billion euros (14.15 billion dollars) for the first time. In local currencies, the company said, sales growth was 7 percent, while like-for-like sales grew by 5 percent, underpinned by growth across all brands and regions, stores and online. The company added that first-half net profit reached 1.55 billion euros (1.71 billion dollars), up 10 percent including the impact of IFRS 16. Without IFRS 16, Inditex said, profit growth would have been 7 percent.