Zara owner Inditex first-half profit rose 10% driven by strong spring/summer sales.
The Spanish fashion giant’s 7.2% sales increase comes despite fashion retailers across Europe being hit by wet weather over the summer. Just last week Primark revealed that UK sales would be down in its current half as poor weather led to lower footfall in its stores and hit seasonal lines in womenswear and footwear.
Inditex, which operates more than 5,000 stores worldwide, said its spring/summer collections were “very well received” by customers. Its autumn/winter collections are also off to a good start with store and online sales up 11% between 1 August and 8 September in constant currency.
Over the first half, sales hit €18.1bn (£15.3bn) and all of its concepts, which include Pull & Bear, Massimo Dutti, Bershka, Stradivarius, and Oysho, were in growth.
Sales at its largest brand Zara, including Zara Home, hit €13m (£11m), up 5.4% year-on-year.
Over the half, Inditex continued to introduce new technology in stores, providing a “significant improvement” in customer experience, facilitating interaction with its products and improving the purchasing process.
Inditex CEO Óscar García Maceiras said: “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.”
Looking ahead, the fashion titan said it sees “strong” growth opportunities as it aims to “continually improve the fashion proposition, enhance the customer experience, increase its focus on sustainability and preserve the talent and commitment of its people”.
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