It’s been a good beginning to the year for this Spanish fashion retail group!
Inditex has witnessed an impressive surge of 50 per cent to €4.9 billion in its first quarter net sales. The Group has, reportedly, attributed the good numbers majorly to online growth.
The digital sales at Inditex for the quarter, which ended 30 April 2021, soared by a massive 67 per cent.
The total sales between 1 May and 6 June 2021 saw a year-on-year growth of 102 per cent compared to what it was during the same period last year. That’s also 5 per cent growth from what it was in 2019.
Q1 also saw Group’s EBITDA grow by 155 per cent to clock €1.2 billion. Importantly, net profit during the quarter was €421 million, compared to a loss of €409 million in the first quarter of last year.
The net cash available during the period is, reportedly, €7.2 billion. Here it is important to mention that it is the highest reported in a first quarter for the Group.
Inditex, which owns Zara and Massimo Dutti, amongst others, is successfully going ahead with its €1 billion digital investment plan (2020-2022). At the end of first quarter, the Group had 6,758 stores in 96 markets, having opened 53 new higher tech stores in 21 markets during the quarter.