Zara owner sees soaring profits on expansion

Spain's Inditex, the world's largest fashion retailer and owner of the Zara brand, Wednesday posted bumper profits for the first quarter as it pursued an ambitious programme of international expansion.Profits for the February-to-April period totalled 332 million euros ($447 million), up 10.3 percent from last year.Sales leapt 11 percent to 2.96 billion euros, while earnings before interest, taxes, depreciation and amortisation, or EBIDTA, was up...

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