Zara owner Inditex sees sales rise to €8.2bn in Q1
The group attributed the robust operating performance to the ‘creativity’ of the teams and the ‘strong execution’ of the fully integrated business model
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Zara owner Inditex has reported a 7.1% increase in sales to €8.2bn (£6.98bn) in the first quarter of 2024.
The group’s gross profit also increased 7.3% to €4.9bn (£4.17bn) and gross margin reached 60.6%.
Additionally, the group’s EBITDA rose by 8% to €2.4bn (£2.04bn) and EBIT increased 10.3% to €1.6bn (£1.44bn).
Store and online sales in constant currency between 1 May and 3 June 2024 was also up 12% versus the same period in 2023
The group attributed the robust operating performance to the “creativity” of the teams and the “strong” execution of the fully integrated business model.
Looking ahead, Inditex expects growth of annual gross space in the period 2024-2026 to be around 5% and space contribution to sales to be positive, in conjunction with a strong evolution of online sales.
In FY2024, it also expects a stable gross margin (+/-50 bps).
