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Zara’s owner, Inditex, has announced its sales, income and EBITDA has reached “historic highs” in the first half of 2022 (H1 FY22), with sales growing 24.5% to €14.8bn (£12.8bn) year-on-year.
Sales were positive in all “key” geographical areas, and net income increased 41% to €1.8bn (£1.5bn) while gross profits increased 24.5% to €8.6bn (£7.4bn).
Additionally, Inditex’s EBITDA increased 30% to €4bn (£3.4bn) and its gross margin reached 57.9% in H1 which is the highest in seven years.
Overall, store and online sales between 1 August and 11 September 2022 increased 11% versus the record period in 2021.
Online sales progressed “satisfactorily” and were positive in the second quarter of the year, and are expected to exceed 30% of total sales by 2024.
Particularly, Zara’s sales are up 29% year-on-year to €10.9bn (£9.4bn), Pull&Bear’s sales increased 19% to €936m (£811m) and Bershka’s sales grew 15% to €1.05bn (£914.2m).
Oscar García Maceiras, Inditex CEO, said: “The results are explained by four factors, key to our performance. Our unique fashion proposition, an increasingly optimised shopping experience for our customers, our focus on sustainability, and the talent and commitment of our people.
“Our business model is progressing at full pace and has great growth potential going forward.”
