Zara owner Inditex boosted by pick-up in spring sales

The company, whose brands also include Pull&Bear and Massimo Dutti, is battling intense competition from the likes of H&M,

Zara owner Inditex reported a pick-up in recent sales from its spring/summer collections, boosting its shares as the world's top fashion retailer delivered quarterly results in line with expectations.

The Spanish company said sales rose 12% between May 1 and June 3 from the same time the year before, helping to lift its shares almost 5% to a one-month high in early trading.