Inditex reported an increase in profits and sales, as the fashion giant hailed the continued rollout of its “global, fully integrated store and online platform”.
For the nine months to October 31, 2019, Inditex reported that gross profit across its stable of brands rose to €11.5bn (£9.73bn) an increase of 8% on the same period the previous year.
Sales for the period surged 7.5% to €19.8bn (£16.7bn), with the retailer describing trading as “strong throughout the period”.
EBITDA increased 10% in the nine months to €5.7bn (£4.8bn), while net income surged 14% to €1.2 (£1bn).
The retailer also said it had remained “very active in the differentiation of its store base” and had launched Zara online in new markets South Africa, Colombia, Philippines and Ukraine.
The fashion giant said that, due to its strong operating performance during the period, its cash position increased 17%.
For the full year, Inditex estimated like-for-like sales growth of between 4% and 6% and “strong free cash flow generation”.
Inditex said ordinary capital expenditure for the year would be approximately €1.4bn (£1.1bn).
The Spanish fashion giant also confirmed that it had nominated Anne Lange to its board and said her appointment would be ratified at its annual general meeting next year.
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