// Inditex announces increase in sales for the full year
// Like-for-like sales increased by 4%
// EBITDA increased by 11% in local currencies to €5.4 billion (£4.6 billion)
Inditex has announced its net sales for the full year has increased by three per cent year-on-year, hitting an all time high number of €26.1 billion (£18.6 billion), thanks to growth from all markets.
Revenue and profits increased for the year ending January 31, but it was recorded as slightly below analyst expectations.
Like-for-like sales increased by four per cent for the period, boosted by a 27 per cent increase in digital sales climbed to €3.2 billion (£2.8 billion).
“In 2018, Inditex had a strong operating performance,” Inditex capital markets director Marcos López said.
“Let me highlight that like-for-like sales growth was up four per cent, positive in stores and online as well as positive in all regions and concepts.
“The gross margins expanded as well despite the currency headwind.”
Meanwhile, EBITDA increased by 11 per cent in local currencies to €5.4 billion (£4.6 billion), and net profit went up two per cent to €3.4 billion (£2.9 billion).
In-store sales increased by seven per cent from February 1 to March 9.
Inditex now predicts like-for-like sales will increase by four to six per cent for current full year.
In its earnings report, Inditex also reported a bonus dividend of €1 (0.85p) per share, split across 2019, 2020 and 2021.
Gross profit at the Spanish multinational clothing company, which owns retailers Zara and Massimo Dutti, increased by four per cent to €14.8 billion (£12.7 billion) and gross margin increased to 56.7 per cent.
Inditex chief executive and chairman Pablo Isla said: “Our investments in both logistics and stores in order to leverage the integrated platform, as well as our continued focus on prime locations, has enabled Inditex to offer customers a consistent and appealing proposition globally, across all our brands and channels.”
Inditex currently has 7490 stores in 96 markets worldwide.