Inditex, the largest fashion retailer in the world, has reported its slowest growth in profit for five years.
The retail giant owns Zara and a host of other fashion outlets, such as Massimo Dutti and Bershka.
It has become renowned for its fast-fashion and producing clothing from its base in northern Spain where it is controlled by Spanish billionaire Amancio Ortega.
Its net income rose less than 1% in the last year while sales were up by 5%.
The retail giant has been busy expanding its operations in China, Russia and Brazil and plans to open no fewer than 500 new shops next year.
Last year it opened 331 new outlets. Inditex will spend €1.35bn on capital expenditure during the year.
