September 20, 2017 / 5:12 AM / in a month

CORRECTED-Inditex H1 net profit 1.37 bln euros, slightly missing f/cast

(Corrected to show H1 not H2 in headline)

MADRID, Sept 20 (Reuters) - The world’s largest clothing retailer, Inditex, on Wednesday reported first half net profit of 1.37 billion euros ($1.64 billion), slightly missing a polled forecast, on sales of 11.67 billion euros.

Gross margin decreased from the same period one year ago, to 56.4 percent from 56.8 percent, hit by the recent strengthening of the euro against a basket of currencies including the U.S. dollar.

Inditex generates more than half of its sales in non-euro currencies and then books those sales in euros when reporting results. ($1 = 0.8329 euros) (Reporting By Sonya Dowsett; Editing by Paul Day)

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