Zara’s profits and sales in its United Kingdom market soared in its last financial year, reports Retail Gazette. The fashion company bucked the challenges plaguing its high-end street competitors. According to filed documents, the UK arm of the Spanish fashion retail giant recorded pre-tax profits of £51 million for the year ending January 31. This is a 30% increase compared to the £39 million profit the year prior. In the meantime, sales surged 17%, to £704 million for the same full-year period.
The figures were achieved despite selling and distribution costs increasing eight percent as parent company Inditex modernised its estate of Zara stores in London. The modernisation included a robot-operated click-and-collect warehouse and a self-checkout system at its Westfield Stratford branch. Zara operates 64 stores in the United Kingdom by the year’s end, compared to 66 the year before.
The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.