Staff Reporter
FASHION giant Zara is aiming to record a profit in every month of 2016 as the retailer looks back a fantastic year.
Owned by Spain’s richest man Amancio Ortega, the Spanish clothes retailer has announced profits for every month of the year so far.
Up by 9% on last year’s gains, parent company Inditex registered profits of €2.2 billion from February until October.
Meanwhile sales are up 11%, allowing the company to open 227 new stores and create 9,245 jobs over the past year.
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Walk in to any shopping mall and 90% of the clothes shops are all owned by one person. People do not realise that they are purchasing from what is effectively one shop. When you have such a monopoly it’s not surprising you get such results, and of course factor in all of the child labour and other dubious practices and it’s profit all the way.