Raise your hand if you've spent more money at Zara than you'd care to admit—yep, that's just about everyone. Now, new statistics show that Zara's massive popularity shows no signs of slowing: The Business of Fashion reported on the latest profits from the retailer's parent company, Inditex SA, and the numbers are staggering.
In the three months through April 2016, Inditex's profits rose to a whopping $790 million, which is especially significant because it beat all estimates and was a 6% rise from the previous quarter. BoF explains the company's successful strategy: "Inditex, the world's largest clothing retailer with more than 7,000 stores in 90 countries, has been scaling back bricks-and-mortar store openings while pushing further online."
In other words, it looks like Zara will continue to take chunks of your paycheck for the foreseeable future.
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