Zara owner hails strong full year performance
Zara owner Inditex has posted strong growth in full year sales and profit after it benefited from increased footfall in its stores.
In 2022, sales rose by 17.5% year-on-year to €32.6 billion with uplifts in all key geographical areas.
Meanwhile pre-tax profit rose by 28% to €5.4 billion and EBITDA by 20% to €8.6 billion.
Store sales were particularly buoyant, growing by 23%, despite there being 10% fewer shops and a 6% reduction in commercial space compared to 2021. Online sales edged up 4% to €7.8 billion.
Óscar García Maceiras, chief executive of Inditex, said: “The excellent results of 2022 show the strength of our business model and its ability to move towards the next level of development in which our fashion proposition, the experience of our customers, our commitment to sustainability and the talent of our teams will continue to be key.”
In addition to Zara, Inditex’s retail brands include Pull & Bear, Stradivarius, Massimo Dutti, Bershka and Oysho.
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