Inditex posts 11% surge in sales

Inditex, the world’s biggest clothing retailer and owner of Zara, has recently unveiled the financial results for the first nine months of the current fiscal from 1^st February to 31^st October. The company reported a jump of 9 per cent in net profit to Euro 2.2 billion.

In the period under review, the company’s net sales rose 11 per cent to Euro 16.4 billion. Gross profit in the mentioned period increased 9 per cent to Euro 9.49 billion. EBITDA was up 8.4 per cent to Euro 3.6 billion. Over the past twelve months, the Group has created over 9,000 new jobs around the world, one in five of which were in Spain.

The Group has continued to expand this integrated offline-online store model globally over the period. In the first nine months of the year, Inditex opened 227 stores in 50 markets, five of which were new markets (New Zealand, Vietnam, Paraguay, Aruba and Nicaragua), expanding its global footprint to 93 markets and bringing its total global store count to 7,240 stores as of 31st October. Inditex’s online presence is now spread in 41 markets after recently launching online sales platform in Turkey in the month of October this year.

Also Read – Inditex opens new Zara store in New Zealand

Commenting on the results, Pablo Isla, Chairman and CEO, Inditex said, “The company’s growth is driving noteworthy job and value creation in our various markets, most particularly in Spain, boosted by the simultaneous growth at the Group’s headquarters. This momentum is the result of sustained investment – logistic facilities and stores – as well as the ongoing development of integrated offline-online store model.”