Inditex reported interim sales, earnings and net income at historic highs and said its Autumn/Winter collections have been “very well received” by customers, - outpacing many of its fashion rivals struggling with rising costs and penny-counting shoppers.
The owner of Zara, Massimo Dutti, Pull&Bear and Bershka clothes chains reported sales in the six months to the end of July of €14.8 billion, up 24.5% versus the first half of 2021. Sales in constant currencies grew 25%.
Referring to current trading, store and online sales in constant currency between 1 August and 11 September 2022 increased 11% versus the record period in 2021, a statement said.
In the six months, EBITDA increased 30% to €4bln, net income jumped 41% to €1.8bln and gross margin reached a seven-year high.
Shares in the company were trading 5.06% higher at €23.06, but are still down 23% this year.