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Inditex 9-month profit up 9 percent, in line with forecasts

Wed, 14th Dec 2016 06:18

MADRID, Dec 14 (Reuters) - Inditex, the world'sbiggest clothing retailer and owner of Zara, on Wednesdayreported a 9 percent rise in 9-month profit from a year ago, assales continued to accelerate despite a warmer-than-usual autumnin many European countries.

Inditex's net profit was 2.2 billion euros ($2.3 billion)for the 9 months from February to October, in line with aReuters polled forecast.

As its fashion peers struggle to adapt to changing consumertastes, with Abercrombie & Fitch and Gap postingbleak fourth-quarter sales last month, Inditex's "fast-fashion"business and online prowess have kept it ahead.

Its core profit, or earnings before interest, tax,depreciation and amortisation (EBITDA), was 3.6 billion euros,also in line with a Reuters poll of analysts.($1 = 0.9395 euros) (Reporting by Angus Berwick; Editing by Paul Day)

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