Net Income At Zara Owner Inditex Soars 30.3% In 2023
Net income at owner of fashion brands like Zara and Pull&Bear, Inditex soared 30.3 percent over 2022 to €5.4 billion in 2023.
“In 2023, Inditex continued with a very robust operating performance due to the creativity of the teams and the strong execution of the fully integrated business model,” the Spanish apparel retailer said.
In the previous year, sales grew 10.4 percent over 2022 and totaled €35.9 billion, while sales in constant currency grew 14.1 percent.
Gross profit rose 11.9 percent to €20.8 billion, while gross margin reached 57.8 percent and operating expenses climbed 10.0 percent, all over a year ago period.
EBITDA enhanced 13.9 percent to €9.9 billion in the reporting year and EBIT expanded by a significant 23.4 percent to €6.8 billion.
“We have been able to take advantage of opportunities to keep growing profitably. We are investing to drive future growth and continue to offer good return to shareholders,” CEO Oscar García Maceiras said.
