Spanish fashion retailer Inditex SA (IDEXF.PK) Wednesday reported higher profit for the first quarter, helped by a 5 percent growth in sales.
Net income attributable to the controlling company rose to 438 million euros from 432 million euros in the prior year. Earnings per share grew to 70 euro cents from 69 euro cents.
Net sales for the quarter advanced to 3.593 billion euros from 3.416 billion euros in the prior year.
Inditex's Board of Directors has proposed to the General Shareholders Meeting a fiscal 2012 total dividend of 2.20 euros per share.
The firm paid 1.10 euros per share on May 2 as interim dividend and 1.10 euros per share will be payable on November 4 as final ordinary and bonus dividend.
Dwelling on current trading, Inditex said store sales in local currencies have increased 8 percent from May 1 to June 7.
Zara plans to launch online sales in the Russian Federation at the beginning of the Autumn/Winter 2013 season, the retailer added.
Inditex said its space growth and store openings for the year are on track.
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