Zara owner Inditex hails robust quarterly performance
Zara owner Inditex has hailed a robust performance in its first quarter after its spring/summer collections were well received by customers.
In the three months to 30 April, sales grew by 13% to €7.6 billion while EBITDA increased by 14% to €2.2 billion.
Meanwhile net income rose by 54% to €1.2 billion.
During the period, Inditex opened new shops in 17 markets which took its total to 5,801 stores.
Giving an update on second quarter trading to date, Inditex said store and online sales in constant currency increased by 16% between 1 May and 4 June compared to the same period in 2022.
Last month, the company started operations in Cambodia with the opening of a Zara flagship store in Phnom Penh at Chip Mong Mega Mall and the launch of online sales in the market.
Looking ahead Inditex said: “Inditex continues to see strong growth opportunities. Our key priorities are to continually improve the fashion proposition, to enhance the customer experience, to increase our focus on sustainability and to preserve the talent and commitment of our people. Prioritising these areas will drive long-term growth.”
Inditex’s other retail brands include Pull & Bear, Massimo Dutti, Bershka, Stradivarius and Oysho.
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