Inditex posts strong revenue and profit uplifts
Zara owner Inditex has posted a 37% uplift in revenue to €19.33 billion in the first nine months of its financial year.
The group, which also owns Bershka, Pull & Bear, Massimo Dutti, Oysho and Stradivarius, increased its online sales in local currencies by 28% in the period and by 124% on the same time in 2019.
Inditex executive chairman Pablo Isla said: “These results are very satisfactory and demonstrate once again the solidity of our business model, the quality and commitment of our teams, and the potential being realised by our strategy of fully integrating stores and online.”
Meanwhile, net profit came in at €2.5 billion, which represented year-on-year growth of 273%. EBITDA was also up, rising by 63% to €5.43 billion.
During its third quarter, Inditex continued to invest in digital transformation and the modernisation of its store platform. At the end of October, the group had 6,657 stores, after opening 179 new stores in 39 markets during the nine month period.
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