Zara’s owner Inditex first-half sales and profits hit historic highs, both surging 24.5%. With group sales up to 11% in constant currency from August to September 11 half year, Inditex’s sales rose to €14.84 billion between February and July from €11.9 billion in 2021, while profits hit €8.5 billion.
Gross margin hit its 57.9%, its highest level in seven years.
Online sales also grew and are expected to make up 30% of the overall group by 2024.
The retail group pushed ahead with store expansion in the first half of the year, opening shops in 24 markets. Its total store count now stands at 6,370.
Inditex highlighted higher inventory levels as it accelerates the flow of the new season stock to tackle supply issues.
Unique fashion proposition, increasingly optimised shopping experience, focus on sustainability, and the talent and commitment of its people are being considered the reasons for growth as per the company’s top management.
