Zara owner Inditex sees sales and profits surge in FY24
According to the group, the higher level of store sales was achieved with 2.0% more commercial space and 2.3% fewer stores than in 2023
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Inditex, the owner of Zara, has hailed its “robust” full-year performance after sales rose by 10.5% to €38.6bn (£32.5bn) in 2024, following “very satisfactory” trading both in stores and online.The group, which also owns brands including Pull and Bear and Bershka, reported profit-before-tax rose by 10.3% to €7.6bn (£6.4bn) while EBITDA increased 8.9% to €10.7bn (£9bn). Net income meanwhile rose by 9% to an “historic high” of €5.9bn (£5bn).
Over the year, store sales grew 5.9%, reflecting rising footfall and increased productivity, with its ongoing store optimisation and digitalisation programme continuing to be “key” to the progress.
According to the group, the higher level of store sales was achieved with 2.0% more commercial space and 2.3% fewer stores than in 2023. In 2024, gross new space increased by 5.8% overall.
Online sales meanwhile rose by 12% to reach €10.2bn (£8.6bn), with online visits rising by 10% to 8.1 billion visits. The group said it also has 257 million followers on social media.
Inditex opened stores in 47 markets in 2024, including its first stores in Uzbekistan, and remained “very active” in store optimisation activities, with 257 openings, 254 refurbishments, and 386 absorptions.
Following its “excellent” results, the group’s board of directors will propose a dividend increase of 9% to €1.68 (£1.42) per share for FY24, composed of an ordinary dividend of €1.13 (£0.96) and a bonus dividend of €0.55 (£0.47) per share.
Looking ahead, Inditex said it expects “profitable growth,” with the increase in annual gross space in 2025-2026 expected to be around 5%.
CEO Oscar García Maceiras said: “The excellent sales and profit figures show the solidity of the Inditex Group’s profitable growth, based on the quality of the commercial offer of all our formats, the efficiency in all operations, and the constant innovation with which our teams drive a business model that continues to show its ambition and strength 50 years after the opening of our first store.”
