Inditex, owner of businesses including Zara, has reported rocketing annual sales and profits.
Inditex, which also runs fascias including Pull & Bear as well as Zara, generated a 36% sales uplift last year to €27.7bn. That was 3% up on 2019 on a local currency basis and down 2% net.
Net profit amounted rocketed 193% year on year to €3.24 billion in the year to January 31.
Inditex said that online revenue amounted to €7.5bn, accounting for 25.5% of that total and ”reinforcing the company as a global leader in ecommerce”.
Inditex executive chair Pablo Isla said: “After two years of the pandemic, this set of results demonstrates the incredible ability to adapt to any circumstances which characterises the people who work here, born from their commitment and talent”.
In the new financial year, store and online sales between up to March 13 advanced 33% versus 2021 and were up 21% on the pre-Covid levels of 2019.
Inditex said that in that period, sales in Russia and Ukraine ”represented approximately five percentage points of sales growth”. On March 5, Inditex said that it was “temporarily” closing all of its 502 stores and website in Russia, following its invasion of Ukraine.
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