Zara owner reports “very robust” Q1 performance
The owner of Zara has reported a “very robust” operating performance in the first quarter of the financial year.
Inditex, which also owns brands such as Pull & Bear, Bershka, and Massimo Dutti, said its Spring/Summer collections had been very well received.
In the three months to April 30 2023, sales at Inditex increased by over 13% to €7.6bn (£6.53bn), and were positive “in all geographic areas and in all concepts”. On a constant currency basis, sales grew by 15%.
The group’s gross profit and earnings (ebitda) both increased 14% to €4.6bn (£3.95bn) and €2.2bn (£1.89bn) respectively.
Inditex said that during the first quarter, openings had been carried out in 17 markets. By the end of April, the group was operating 5,801 stores worldwide.
The report also gave details on a new Zara store design, created by Inditex’s architectural studio. The concept looks to integrate sophisticated interiors with functional and digital sections such as fitting rooms, self-checkout areas, click-and-collect points, in-store silos, and stockrooms. This new concept has already been seen at some stores including at London Stratford City.