Inditex records record third quarter revenue

Worldwide
Published:  20 December, 2021
Credit: Zara

The Spanish fashion group achieved record revenue and profit in the third quarter, reaching a total of €19.33 billion (US$21.8 billion) in the first nine months of its fiscal year (February to October), with year-on-year growth of 37%.

Net profit over that same period came in at €2.5 billion (US$2.8 billion), compared with €671 million (US$756 million) in 2020, up 273% (2020 was impacted by the pandemic).

In-store sales grew throughout the third quarter, beating 2019 results despite 11% less stores. Meanwhile, online sales revenue in local currencies was 28% higher than the nine-month period in 2020 and 124% above pre-pandemic levels of 2019.

As of the end of October, the Group had 6,657 stores, opening 179 new locations in 39 markets in the financial year so far. These include new flagship stores for Zara in Paris and London.