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Inditex’s Q1 net profit soared 80% to €760 million

Inditex’s Q1 net profit soared 80% to €760 million

The fast fashion retailer is seeing good growth as its sales beat pre-pandemic levels, hitting €6.7 billion for a rise of 36% year-on-year.

The group said gross profit increased 37% to €4.1 billion. The gross margin hit 60.1% and the highest figure in 10 years.

Its pre-Covid Q1 (the three months to the end of April 2019) had seen it reporting profits of €734 million on sales of €5.93 billion.

The company said the period was marked by “a significant rebound in traffic to Inditex’s stores” with its shop sales having “increased markedly”.

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