The Strategist

Zara’s owner pushes up profits in the first half fiscal year

09/14/2022 - 11:06

Net profit for Inditex Group increased to €2.4 billion in the first half of the fiscal year.

In the first half of the fiscal year (February 1 - July 31), the net profit of the Spanish Inditex Group, one of the largest clothing and footwear retailers in the world, increased by 44% to €2.431 billion.

In the reporting period, the company's revenues increased by 24 percent to €14.845 billion. In the first half of the year, diluted earnings per share increased from €0.408 to €0.576.

EBITDA for the half year increased by 30% from February to July 2021-2022 to reach €4.029 billion. The total number of stores decreased by 4%.

The business anticipates a 30% increase in internet sales by 2024.