Zara owner Inditex has reported a strong start to festive trading, as sales and profits soared over the year.
The Spanish fashion giant reported that sales jumped 9% in the six weeks to December 9, 2024, as Inditex’s suite of brands continued to draw in shoppers even as other apparel brands struggled.
For the wider nine months covering February 1 to October 31, Inditex reported a 7.2% jump in gross profits €16.3bn (£13.43bn) and a 9.9% jump in profit before tax to €5.8bn (£4.78bn).
Total sales for the nine months grew 7.1% to €27.4bn (£22.58bn), while EBITDA increased 7.2% to €8bn (£6.59bn).
During the period, Inditex opened stores in 45 countries and finished it with 5,695 stores across the globe.
In terms of outlook, Inditex said it “continues to see strong growth opportunities” for the future and said its key priorities are to “continually improve on the fashion proposition, to enhance the customer experience, increase our focus on sustainability and to preserve the talent and commitment of our people”.
The group said it would implement a “logistics expansion plan” over the rest of the 2024 financial year and into 2025 – allocating €900m (£741.8m) over two years to increase its logistical capabilities.
It said the plan will ensure its logistics chain has “the highest standards of sustainability and use the most up-to-date technology”.
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