Inditex peak trading sales up

The business, which also owns Zara, Pull&Bear, Massimo Dutti, Bershka, Stradivarius and Oysho, provided the peak trading update as part of its financial results for the nine months ended 31 October, during which sales grew 7.1% year on year to €27.4bn (£22.6bn).

Gross profit increased 7.2% to €16.3bn (£13bn), as autumn/winter collections were "very well received by our customers", the business said.

EBITDA for the nine-month period increased 7.2% year on year to €8bn (£6.6bn), as the business reduced inventory levels by 2.6% year on year and reduced the number of stores across all brands from 5,722 to 5,659.