Zara owner sees PBT jump 3.6% to €6.0bn
Looking ahead, Inditex said it expects around a – 4% currency impact on sales in 2025 and a stable gross margin for the year of plus or minus 50 basis points
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Zara parent company Inditex has seen robust operating performance as its profit before tax increased 3.6% to €6.0bn (£5.26bn) for the nine months ended 31 October 2025.
The group attributed this growth to the creativity of its teams, the fully integrated business model and its diversification.
During the period the group also reported revenues of €28.2bn (£24.73bn), up 2.7%, showing satisfactory development both in stores and online. Sales in constant currency grew 6.2%.
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Its EBITDA also increased 4.2% to €8.3bn (£7.28bn), while gross profit was also up 3.2% to €16.8bn (£14.8bn).
Its gross margin also reached 59.7% (+27 bps). Openings have been carried out in 39 markets. At the end of the period Inditex operated 5,527 stores.
At the start of Q4 2025, the company stated that Autumn/Winter collections remain well received by its customers. Store and online sales in constant currency between 1 November and 1 December 2025 increased 10.6% versus the same period in 2024 (+9% between 1 November and 24 November 2025).
Looking ahead, Inditex said it expects around a negative 4% currency impact on sales in 2025 and a stable gross margin for the year of plus or minus 50 basis points.
The growth of annual gross space in the period 2025-2026 is expected to be about 5%, alongside continued gains in store productivity and strong online sales.
The group said it is investing to expand logistics capacity and scale operations, with ordinary capital expenditure estimated at €1.8bn (£1.58bn) this year.
A two-year programme allocating €900m (£789.2m) annually in 2024 and 2025 remains under way, aimed at strengthening global distribution.
Inditex added that it continues to prioritise design, product quality and integration between physical and online channels.
Recent store activity has included new Zara openings in Las Vegas and Charlotte, North Carolina, a Zara Man standalone site in Rome, and refurbishments or relocations in Osaka, Austin, Maastricht and Barcelona.
Inditex said: “In the current year, we are executing investments that are scaling our capabilities and generating efficiencies that are being reinvested back into the business increasing our competitive differentiation further. We estimate ordinary capital expenditure of around €1.8bn (£1.58bn).”
