The world’s biggest fashion retailer Inditex has posted record first-quarter sales bolstered by the “strong momentum in the digital transformation”.
The fashion retailer, which owns the likes of Zara, Pull & Bear and Massimo Dutti, posted 5% year-on-year sales growth to €5.93bn (£5.28bn) in the three months to April 30.
The group posted a 49% surge in EBITDA to €1.7bn (£1.5bn) for the same period as net profit increased 10% to €734m (£653m).
During the quarter, Zara.com was launched in Brazil and the group introduced its online platform in Morocco, Egypt, Lebanon, Israel, Serbia, Indonesia, the UAE and Saudi Arabia.
In the autumn, Zara plans to launch online sales in South Africa, Qatar, Kuwait, Bahrain, Oman, Jordan, Colombia, the Philippines and Ukraine.
Inditex’s chair and chief executive Pablo Isla said: “These figures demonstrate the solidity of the company’s model, whose profitability and cash flow generation continues to grow owing to the group’s commitment to customer-driven, quality fashion.
“The strong momentum in the digital transformation of the integrated store and online sales platform and in sustainability is a key pillar of the company’s strategy.”