Inditex’s full-year profits and sales have risen during a year in which the retail giant ploughed ahead with global expansion.
Net profit reached £2.9bn, up 7% in the year to January 31, 2018. EBITDA rose 4% to £4.6bn.
Total sales were up 9% to £22.1bn. Like-for-likes rose 5%. Online sales skyrocketed 41% and now account for 10% of total sales.
Inditex has become an increasingly dominant force on the high street with its many brands powered by its vertically integrated model.
All brands grew at least 7% over the year. Across fascias, Zara, by far the largest of Inditex’s brands, grew 8% to £16.6bn. Upmarket Uterqüe saw the best growth with a 17% sales rise to £97m, while Zara Home sales rose 7% to £830m.
Europe, excluding Spain, was the best-performing region with sales rocketing 44.9% against the previous year’s 43.9% growth.
Americas grew 15.6%, Spain 16.3% and Asia and the rest of the world 23.2%.
Inditex opened 524 stores in 58 markets over the year but closed 341 smaller units, which were replaced or absorbed by larger stores.
Group chief executive Pablo Isla said that Inditex was “well placed for continued growth across all its markets” due to its “prescient investments made in technology and logistics in recent years, coupled with space optimisation”.