Zara owner’s profits rise despite inflation ...Middle East

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MADRID: Zara owner Inditex reported Wednesday a jump in profits in the third quarter of its fiscal year despite soaring inflation and the war in Ukraine impacting business costs.The group, which also owns Massimo Dutti, said it pulled in a net profit of 1.3 billion euros ($1.4 billion), between August 1 and October 31, compared to 1.23 billion euros in the same period last year.Analysts surveyed by financial information service Factset had expected a net profit of 1.3 billion euros.Between February 1 and October 31, the ready-to-wear giant said net income rose by 3.1 billion euros, up 24 percent from the same period in 2021.Sales were also up 19 percent to reach 23 billion euros, thanks to a

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