Zara owner Inditex profits and sales continue to thrive
Spanish fashion giant Inditex posted an increase in profits and sales in its first quarter, which it credits to a positive performance across “all geographical locations” and its spring/summer collections resonating with shoppers.
Inditex reported a 14% increase in gross profit to €4.6bn (£3.96bn) as well as a 14% increase in EBITDA to €2.2bn (£1.89bn) for the three months to April 30, 2023.
The fashion retailer, which owns brands including Zara, Bershka and Oysho, also posted a 13% increase in sales to €7.6bn (£6.54bn) for the period.
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