The company achieved sales growth in all of its geographical areas and reported a constant currency sales growth of 14.9%.

EBITDA at the end of the third quarter totalled €7.4 billion, up by 13.9% against the nine months of 2022, while EBIT was up by 24.3% to €5.2 billion.

Gross profit had growth of 12.3% in the year so far to €15.2 billion, while net income for the period was up by 32.5% to €4.1 billion.

The company opened stores in 36 markets in the year so far for a total of 5,722 by the end of the nine months.

Looking forward, Inditex expects strong results in the full financial year, with a currency impact of -4% on sales. The fourth quarter is off to a strong start and store and online sales are up by 14% in constant currency from November 1 to December 11, 2023.

The company said: “Inditex continues to see strong growth opportunities. Our key priorities are to continually improve the fashion proposition, to enhance the customer experience, to increase our focus on sustainability and to preserve the talent and commitment of our people.

“Prioritising these areas will drive long-term growth. To take our business model to the next level and extend our differentiation further, we are developing several initiatives in all key areas for the coming years.”