Fashion giant Inditex, owner of fascias including Zara and Bershka, has reported an increase in annual earnings and revenue, which it said was driven by “strong execution”.
Inditex posted pre-tax profits up 28.2% to €6.9bn (£5.89bn) last year, when sales advanced 10.4% to €35.9bn (£30.66bn), “showing very satisfactory development both in stores and online”.
The retailer said that “sales were positive in all geographical areas and in all concepts”.
Store sales were up 7.9%, “reflecting incremental footfall and increasing store productivity”. Inditex said that performance was “achieved with 2% more commercial space and 2% less stores than in 2022”.
Online sales “grew satisfactorily” – up 16%.
Customer enthusiasm for the latest spring/summer collections has resulted in continued good trading. The retailer said that constant currency sales rose 11% between February 1 and March 11 this year versus 2023.
Inditex chief executive Oscar García Maceiras said: “Inditex’s performance in 2023 has been excellent. Our teams have been able to take advantage of the opportunities to keep growing profitably. We are investing to drive future growth and continue to offer an attractive remuneration to shareholders.”
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