This surge was driven by both in-store and online sales, which showed positive momentum across all brand concepts. Sales in constant currency grew even further, by 10.2 percent, marking a robust performance for the company.
Reflecting on the company’s strong results, Inditex CEO Óscar García Maceiras stated, “The design and quality of our fashion proposition and the experience we offer our customers are, together with the efficiency and increasing sustainability of our operations, the keys to the solidity of these results. Our fully integrated model continues to generate opportunities for profitable growth across all concepts, regions, and channels.”
The company’s gross profit increased by 7.5 percent to €10.5 billion, with a gross margin rise of 19 basis points to 58.3 percent. Additionally, Inditex saw significant boosts across other financial metrics: EBITDA grew by 8.1 percent to €5 billion, EBIT jumped 11.9 percent to €3.5 billion, and profit before taxes (PBT) rose by 10.6 percent to €3.6 billion. Net income for the six-month period surged by 10.1 percent, totaling €2.8 billion.
The company also revealed that its autumn/winter collections have been well-received, with store and online sales in constant currency from August 1 to September 8, 2024, increasing by 11 percent compared to the same period last year. Inditex projects a stable gross margin for the rest of 2024.
To capitalize on future growth, Inditex has implemented an ambitious logistics expansion plan for 2024 and 2025, dedicating €900 million annually to bolster logistics capabilities. This expansion will support the company’s anticipated 5 percent annual gross space growth through 2026.
Inditex also announced a final dividend for FY2023 of €0.77 per share, which will be paid on November 4, 2024. With 5,667 stores across 34 markets and continued global expansion, Inditex is poised for continued success in the fashion industry.