Zara owner Inditex sees 2023 sales keep pace, but capex plans disappoint

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Reuters UK

By Corina Pons A CORUÑA, Spain (Reuters) -Zara owner Inditex said sales of its spring-summer 2023 collection jump over the past six weeks, but its shares fell on Wednesday as the Spanish retailer flagged higher investment spending. Inditex’s profits jumped by 27% in 2022 as sales exceeded pre-pandemic levels in the first full year since Marta Ortega, daughter of founder Amancio Ortega, took over as company chair. In-store and online sales for the world’s biggest fashion retailer rose 18% to 32.6 billion euros ($34.99 billion) from 2021 and were 15% higher than in 2019, before the pandemic hit….

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