In First Nine Months Of 2023 Sales Climb 11.1% At Inditex
In the first nine months of 2023, sales at Inditex and owner of fashion brands like Zara and Pull&Bear climbed 11.1 percent to reach €25.6 billion, from satisfactory development in both stores and online.
The Spanish fashion group added that sales were positive in all geographical areas and in all concepts and sales in constant currency grew 14.9 percent year on year.
Gross profit in the first three quarters of 2023 increased 12.3 percent from a year ago period to €15.2 billion, while gross margin touched 59.4 percent, up 67 bps versus the comparable months of 2022.
In the reporting period EBITDA expanded by 13.9 percent to €7.4 billion and EBIT rose 24.3 percent to €5.2 billion, both growing compared to a year ago period.
Net income went up by 32.5 percent year on year to €4.1 billion in the period under review, while the net cash position grew 15 percent to €11.5 billion versus the same period last year.
