Zara owner Inditex posts sales and profit growth

In the nine month period, Zara owner Inditex recorded sales growth of 7.1 percent to reach 27.4 billion euros.

The Spanish group, who also owns other brands such as Massimo Dutti, Pull & Bear and Bershka reported gross profit increase of 7.2 percent to 16.3 billion euros, while gross margin reached 59.4 percent, up 4 bps.

The company said in a statement that EBITDA for the period increased 7.2 percent to 8 billion euros and EBIT increased 9.3 percent to 5.7 billion euros. PBT increased 9.9 percent to 5.8 billion euros, while net income increased 8.5 percent to 4.4 billion euros.

Inditex declared FY2023 final dividend of 0.77 euros per share was paid on November 4, 2024. Autumn/Winter collections remain well received by our customers.

The company added that store and online sales in constant currency between November 1 and December 9, 2024 increased 9 percent versus the same period in 2023.

The company opened new stores in 45 markets during the period under review. At the end of the period Inditex operated 5,659 stores.

The company further said that the growth of annual gross space in the period 2024-2026 is expected to be around 5 percent. At current exchange rates, Inditex reiterates its expectation of a negative 3 percent currency impact on sales in 2024.