Zara owner Inditex enjoys record Q1 revenues

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Zara has continued to dominate the global fashion market after reporting record-breaking revenues in its first quarter.

For the first three months of its financial year, parent company Inditex saw net sales rise two per cent to staggering £5.64 billion, while gross profits rose 2.6 per cent to €3.3 billion.

Gross margins also improved from 58.2 per cent to 58.9 per cent, which will help alleviate investors concerns after it reported the lowest margins in over a decade amid its last full year results.

Group chief executive Pablo Isla said this showed “the strength of the integrated store and online model, bolstered by continued innovation, is driving solid growth and notable job creation”.

Despite the positive figures, they came below some analyst’s expectations, with Barclays citing poor weather which has hampered various retailers in the first quarter of the year.

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