June 13, 2018 / 7:47 AM / 10 months ago

Inditex expects no currency impact on gross margin for full year

FILE PHOTO: A worker decorates the shop window of Inditex's main brand Zara in a shopping mall in Majadahonda, near Madrid, Spain, May 23, 2018. REUTERS/Sergio Perez/File Photo

MADRID (Reuters) - Zara owner Inditex (ITX.MC) reiterated on Wednesday that it did not anticipate any currency impact on gross margin for the full year and expected a stable gross margin for the year.

The fashion retailer on Wednesday reported an increase in first quarter profitability despite registering lower first quarter sales growth than during the global financial crisis.

Reporting By Sonya Dowsett; Editing by Paul Day

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