MADRID—Fashion giant Zara’s owner Inditex reported an 80 percent jump in first-quarter profit on the back of soaring sales as consumers refreshed their wardrobes after months spent stuck at home during the pandemic lockdowns.
Zara has benefited from successfully passing on higher prices to shoppers despite a cost of living crisis squeezing margins at other retailers.
The company will continue to increase prices in markets affected by inflation during the second quarter while keeping its clothes affordable, CEO Garcia Maceiras told analysts on Wednesday.
“We continue to expect pricing to contribute to 2022 Spring/ Summer sales in a mid-single digit with no impact on volume,” he said….