Sales up 19% for Inditex in 2022 to date

Spain
Published:  15 December, 2022
Credit: Massimo Dutti

Inditex has reported its financial results for the first nine months of 2022, achieving sales growth of 19% to €23.1 billion.

The company noted that sales were positive in all of its markets, while traffic and store sales increased markedly during the year so far and online sales came in above record figures in the same period of 2021.

Store openings were carried out in 30 markets across the first nine months of 2022, with Inditex operating 6,307 stores by the end of the period.

EBITDA in the year so far was up 20% to €6.5 billion and gross profit increased by 19% to €13.5 billion, with a gross margin of 58.7%. Finally, net income was up by 24% to €3.1 billion.

Looking forward, Inditex said: “The future expansion of the Group is underpinned by investment in our stores, advances made to the online sales channel and improvements to the logistic platforms with a clear focus on innovation, technology and sustainability. Online sales are expected to exceed 30% of total sales by 2024.”