Sales jumped 12 per cent in local currencies in the year to January 31 at the group, which comprises fascias including Zara, Bershka, Pull and Bear and Massimo Dutti.
Despite full-year profits remaining flat at €1.25bn (£1.16bn), Inditex said that it would not alter its strategy this year. External communications director Raul Espratera said: “The most important factor is the business model of the company. It means we have outperformed in a challenging market.”
He said the retail group would benefit in the tough environment from its vertical supply chain model, which enables Inditex to offer customers the latest fashions quickly and take advantage of efficiencies.
Bernstein senior analyst Luca Solca said that the figures had been well received in the market as there was “nothing better out there”. He said: “Given the context it is a very resilient performance.”
He added that Inditex would continue to gain market share in the year ahead, particularly via its Zara fascia. “I think that a lot of people will be trading down to concepts like Zara,” said Solca.
This year Inditex will open a further 2.5 million sq ft of space – less than expected.
“They are showing a certain degree of conservatism by reducing space growth,” said Solca. “This is appropriate in the current market.”
This year Inditex debuted its new accessories fascia Uterqüe in Spain, Portugal and Greece. Espratera said that Inditex would continue to expand the fascia, and is looking at European capitals.
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