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Strong euro takes toll on Zara owner Inditex

Business Finance

Reuters  |  LA CORUNA, Spain 

By Sonya DowsettLA CORUNA, Spain (Reuters) - A stronger euro took its toll on Spanish retailer Inditex in its latest quarter, leading to lower profit margins at the owner of clothing chain Zara, while a cold snap dragged on sales of spring fashions at the start of its financial year. But its shares bounced back from early losses on Wednesday, as investors cheered strong online sales growth and Chief Executive Pablo Isla said margins should hold up this year."Looking to the year ahead, we should not see a negative impact on margin at current exchange rates," Isla told a news conference in the ...

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First Published: Wed, March 14 2018. 23:37 IST