Inditex sees double-digit sales rise in Q1

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Inditex Sales

The world’s largest fashion retailer Inditex has revealed its latest trading update, boasting sales of £4.90 billion in its first quarter of 2017.

The parent company of Zara saw a 14 per cent boost in sales, while its net earnings shot up 18 per cent to £575.06 million.

During the quarter the retailer said that all of its brands, including Pull & Bear, Bershka and Massimo Dutti, had expanded their international estates and now trade from 7385 stores in nearly 100 countries.

READ MORE: Inditex owner to receive £1.1bn in dividends

Inditex also launched online platforms in key markets like Thailand, Singapore, Vietnam and Malaysia.

Sales have reportedly been consistent throughout the start of the second quarter.

On a constant currency basis, sales rose 12 per cent from February 1 to June 3, 0.5 per cent less than the first quarter.

Gross margins also showed signs of a slight improvement, rising from 58.1 per cent in the same period last year to 58.2 per cent this year.

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