Spanish fashion retailer Inditex reports 2 pct growth in full year profit

MADRID, March 13 (Xinhua) -- The Spanish-based Inditex clothing group, which includes the famous high-street brand Zara, on Wednesday reported a 2-percent rise in its full Year profits for 2018.

Although it was the lowest increase in sales the company has seen in its history, the world's biggest clothing retailer has made a profit of 3.44 billion euros (3.89 billion U.S. dollars) on total sales worth 26.15 billion euros (29.55 billion dollars) for the financial Year that ended on Jan. 31.

Inditex said that like-for-like sales increased by four percent and were positive across all regions and brands, as well as in both the online and store platforms.

The good performance of Inditex, which also owns upmarket chain Massimo Dutti and underwear store Oysho, is partially attributed to a 27-percent growth in its overall online sales, which were worth 3.2 billion euros (3.6 billion dollars), in the past financial Year.

"Investments in both logistics and stores in order to leverage the integrated platform, as well as our continued focus on prime locations, has enabled Inditex to offer customers a consistent and appealing proposition globally, across all our brands and channels," said Inditex's Chairman and CEO Pablo Isla in a statement.