The Inditex Group, which owns fast fashion retailer Zara, has witnessed an impressive sales jump of 49 per cent in the first 6 months to clock €11.94 billion.
The Group saw its net profit touch €1.27 billion during the period, compared to a loss of €195 million in the first half of pandemic-hit 2020.
As far as second quarter was concerned, the Group saw its revenue rise by 7 per cent (in local currencies) to post €6.99 billion. The Q2 net profit too, at €850 million, was much better than in the second quarter of 2019.
What’s notable is that the numbers were very good despite the trading being down by 15 per cent in the first 6 months and by 6 per cent in the second quarter – owing to pandemic restrictions at some places.
E-commerce numbers too were impressive! The e-commerce sales grew by 36 per cent from what it was in the first half of 2020, and 137 per cent above from the same period in 2019.
Notably, e-commerce sales account for over 25 per cent of overall sales in FY2021.
Following an extraordinary gross margin of 57.9 per cent in the first 6 months, the Group has now predicted a full-year gross margin of about 57.5 per cent in 2021.
The Inditex Group is, reportedly, the biggest fast fashion group in the world, and runs more than 7,200 stores in 93 markets across the globe.