In the nine months to Oct. 31, the sales of Inditex, the Spanish parent company of several fast fashion brands including Zara and Massimo Dutti, grew by 11.1 percent to €25.6 billion, showing “very satisfactory” development both in stores and online, the Spanish fashion fast group said in a statement. Sales at constant currency rates rose by 14.9 percent. Gross profit increased by 12.3 percent to €15.2 billion. The gross margin reached 59.4 percent, up 0.67 percentage points year-on-year. Operating expenses rose by 10.6 percent, below sales growth. Ebitda increased by 13.9 percent to €7.4 billion, and Ebit grew by 24.3 percent to €5.2 billion. Net income was up by 32.5 percent to €4.1 billion. At the end of October, the net cash position grew by 15 percent year-over-year to €11.5 billion.
“Autumn/winter collections continue to be well received by our customers,” Inditex said. Store and online sales in constant currency between Nov. 1 and Dec. 11 increased by 14 percent versus the same period in 2022. Inditex expects full-year gross margin to widen by around 0.75 percentage points compared with a year earlier.
