Inditex reports surge in sales and profit
Zara owner Inditex has posted a surge in sales and profit after its fashion collections were “well received” by customers.
In the nine months to 31 October, the group’s sales grew by 11.1% to reach €25.6 billion. EBITDA growth was also strong with an increase of 13.9% to €7.4 billion.
Meanwhile, net income climbed by 32.5% to €4.1 billion.
Inditex said it had made a good start to the final quarter of the year with store and online sales at constant currency increasing by 14% year-on-year.
During the nine month period, Inditex opened new stores in 36 markets which took the total number of outlets to 5,722.
It has also recently launched a new weekly livestream experience on Douyin for customers in China. Running for five hours, this features catwalks, walkthroughs of the fitting rooms and makeup area, and “behind-the-scenes” views of the camera equipment and staff.
In addition to Zara, Inditex’s retail brands include Zara Home, Massimo Dutti, Pull & Bear, Bershka, Stradivarius and Oysho.
