Boost: Inditex chairman Marta Ortega (pictured), took over from her father Amancio Ortega just over a year ago
The owner of Zara is cashing in as shoppers refresh their wardrobes for summer.
Inditex, the Spanish fashion giant which also owns Massimo Dutti, Bershka, Stradivarius and Pull & Bear, said sales of its latest collections are up 16 per cent since the start of May. That follows sales of £6.5billion in the three months to the end of April, up 13 per cent on the same period last year.
‘Spring-summer collections continue to be very well received by our customers,’ it said.
With profits quarter up 52 per cent to £1.3billion, shares rose to a six-year high, valuing it at around £90billion, more than 20 times that of Marks & Spencer.
The figures are a boost for new chairman Marta Ortega, whose father Amancio Ortega opened the first Zara store in Spain in 1975 before establishing Inditex a decade later.
And the results pile pressure on rival H&M which updates investors on June 15.
Its last set of figures showed lacklustre trading in the three months to February 28, as cold weather hit demand.
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