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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… View Article

FASHION RETAIL NEWS UK

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.

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