Zara owner Inditex plans autumn price hikes as profit surges

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Reuters UK

MADRID (Reuters) – Fashion brand Zara’s owner Inditex said on Wednesday it plans to hike prices again this autumn, as one of the World’s top clothes retailers tries to offset soaring costs despite worries demand will wane due to the cost of living crisis. Following spring and summer price rises, the company will raise prices again in the second half of the year, CFO Ignacio Fernandez said, as Inditex reported a 41% jump in profit for the six months to July and sales which rose by around a quarter. “The level of newness, quality and design of our collections is driving our sales, but obviously …

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