Fashion retailer Zara has announced a profit increase of 8% from its UK stores alone.
Figures show that the brand posted a £535.2 million profit for the year leading up to 31st January and there was an 18% increase in gross profit to £58.3 million for the same period.

The profits came from Zara opening two new stores, one in London’s Oxford Street and one in Guildford taking the total UK store estate to 68 outlets.

The fashion chain added that it will now concentrate on making sales growth stronger and maintaining tight operating expenses, as well as planning to open more stores.

Zara, which is part of Inditex, also posted a 6% rise in net profits to £438 million in the three months to April 30th with an unexpected sales growth of 17%.

As a group, Inditex reported net sales increased 12% year-on-year to £3.9 billion in the first quarter of this year as it continues to expand worldwide.