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The owner of the fashion retailer Zara, Inditex, has reported record-breaking revenues and gross margin improvements in the first quarter of the year.
Inditex revealed an increase of 7% in overall sales in local currencies and a record-breaking revenue of €6bn (£5.29bn) with a 9% sales increase between 1 May and 11 June.
The fashion retailer also reported a gross margin improvement of 58.9% despite its profitability being affected by a high level of non-Euro sales.
This year, Inditex opened several new flagship stores in Zara, Pull & Bear, Massimo Dutti, among others. It also strengthened its design capabilities with its Spanish HQ and offered a new tech-focus placing automated order collection points, self-checkout and mobile payment systems in its key locations.
Pablo Isla, CEO of Inditex, said: “The strength of the integrated store and online model, bolstered by continued innovation, is driving solid growth and notable job creation.”
