Zara owner Inditex posts sales and profit uplifts
Zara owner Inditex has posted a 7.2% sales increase to €18.1 billion in the first half of the year following the popularity of its spring/summer collections.
Gross profit climbed by 7.5% to €10.5 billion in the period while EBITDA rose by 8.1% to €5 billion. Pre-tax profit was also up on the previous year, increasing by 10.6% to €3.6 billion.
During the half year, Inditex opened in 34 markets to take its total number of stores to 5,667 by the end of the period.
Looking ahead, Inditex said its focus on improving its fashion proposition, enhancing the customer experience, improving sustainability, and preserving the talent and commitment of its people will all help to drive long-term growth. The company is also currently working to scale its capabilities, generate efficiencies, and increase its competitiveness.
Óscar García Maceiras, Inditex chief executive, said: “The design and quality of our fashion proposition and the experience we offer our customers are, together with the efficiency and increasing sustainability of our operations, the keys to the solidity of these results.
“Our fully integrated model continues to generate opportunities for profitable growth across all concepts, regions and channels.”
In addition to Zara, Inditex’s fashion brands include Pull & Bear, Massimo Dutti, Bershka, Stradivarius and Oysho.
