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Inditex, the parent company of fashion brands Zara, Bershka and Stradivarius, has reported that revenues rose 1.6% year-on-year to €18.4bn (£15.9bn) in the six months to 31 July, with net income up 0.8% to €2.8bn (£2.42bn).
Constant currency revenues jumped by 5.1% during the period, while gross profits inched up 1.6% to €10.7bn (£9.25bn) with a margin of 58.3%. Inditex said this is broadly in line with the previous year.
During the period, operating expenses rose 2.2%, with Inditex’s EBITDA growing 1.5% to €5.1bn (£4.4bn). Operating profits edged up 0.9% to €3.6bn (£3.1bn), with profit before tax staying flat at €3.6bn (£3.1bn).
According to the group, its funds from operations increased 5% to €3.7bn (£3.2bn). A final dividend of €0.84 (£0.73) per share for the 2024 financial year will be paid on 3 November.
Inditex opened stores in 35 markets during the period, taking its global network to 5,528 outlets. Between 1 August and 7 September, autumn and winter collections helped lift sales by 9% year-on-year in constant currency terms.
The group said it expected gross margins to remain stable for the full year, within a range of plus or minus 50 basis points, but forecast a currency impact of about minus 4% on sales at current exchange rates.
Capital expenditure for 2025 is estimated at €1.8bn (£1.56bn), including €900m (£778m) for the second year of a two-year logistics expansion programme. A new distribution centre in Zaragoza has begun operations, while Inditex has also invested in Theker Robotics, a start-up focused on artificial intelligence-driven logistics automation.
The company said it continued to invest in store refurbishments and technology, including the rollout of soft-tag systems in Zara and other chains, as well as expanding environmental initiatives such as the #bringyourbag scheme and new partnerships with conservation organisations.
Óscar García Maceiras, chief executive of Inditex, said: “We have again achieved a solid performance in the first half of 2025, with satisfactory sales in a complex market environment and keeping strong levels of profitability.”
