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Inditex sustains double-digit expansion and records a 10% increase in sales and earnings

Inditex, the Galician powerhouse, completes its first nine months of financial year with growth and enhanced profitability.

Retail giant Inditex continues growth spurt, recording 10% rise in sales and profits
Retail giant Inditex continues growth spurt, recording 10% rise in sales and profits

Inditex sustains double-digit expansion and records a 10% increase in sales and earnings

Spain's leading retail giant, Inditex, has announced a 10% increase in profits for the first nine months of its current fiscal year. The group, led by Pablo Isla, reported a net profit of €1.302 billion.

Inditex's sales for the period from February 1 to October 31 reached €9.709 billion. This figure represents a growth of 14% compared to the same period last year. However, the increases registered up to the third quarter of the current fiscal year are significantly lower than those of the same period last year.

The group opened 358 new stores in 45 different markets during the first nine months of Inditex's fiscal year. As of October 31, Inditex had a total of 5,402 stores in 78 countries.

Inditex's strong sales growth in the first nine months of the last fiscal year was driven by its online and physical stores. The company continued this trend in the current fiscal year, showing a continued recovery with increased digital sales and expanding global presence.

In September, Inditex launched the online stores of Pull&Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, and UterquΓ«, in addition to the existing online stores of Zara and Zara Home.

The gross margin on sales for Inditex was 59.6%. In the nine months of the previous fiscal year, the gross margin of Inditex rose by 20%. However, this year's gross margin increased by 9% to €5.784 billion.

Inditex has not disclosed any new figures for profits, sales, or gross margin for the fourth quarter of the current fiscal year. The growth in same-store sales at constant exchange rates between November 1 and December 11 was 11% for Inditex.

Inditex's workforce grew to 106,251 people, after creating 9,678 new jobs in the last year.

These increases in profits, sales, and gross margin for the nine-month period were communicated by Inditex to the CNMV. The company's strong performance reflects its commitment to delivering quality fashion to customers around the world.

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