Inditex, the owner of Zara, has reported record high sales growth and income for the first six months of the year.

During the period, Zara saw sales increase by 29 per cent to €10.9 billion.

Overall sales at the company, which also owns Pull&Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, and Pull&Bear, reached €14.8 billion, up by around a quarter compared last year.

Gross profit was up by 25 per cent to €8.6 billion during the first half of the year, while EBITDA increased by 30 per cent to €4 billion.

The fashion retail giant said that in response to possible supply chain pressures in the second half of the financial year, it will temporarily accelerate Autumn/Winter inventory inflows to increase product availability.

The company increased inventory by 43 per cent in July.

“The results are explained by four factors, key to our performance,” said Oscar García Maceiras, chief executive, Inditex. “Our unique fashion proposition, an increasingly optimised shopping experience for our customers, our focus on sustainability, and the talent and commitment of our people.

“Our business model is progressing at full pace and has great growth potential going forward.”

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