Inditex’s net income up 10% in first half

Worldwide
Published:  18 September, 2019

Worldwide sales for the owner of Zara and Massimo Dutti reached €12.8 billion in the first half of 2019, up 7% compared with the corresponding period of the prior year.

Like-for-like sales grew 5% in the first half of the year and were positive across all concepts and all geographies, in both stores and online, said Inditex, outlining that it maintained tight control of operating expenses in the period. Gross profit reached €7.3 billion, (+7%) and gross margin reached 56.8% (+12bps). EBITDA in the first half amounted to €3.4 billion (H1 2018: €2.3 billion), up 8%, and net income increased 10% to reach €1.5 billion (€0.498 per share).

At the end of the first half of 2019, Inditex operated 7,420 stores, with new openings in 31 markets. The Group owns seven brands; Zara and Zara Home, Massimo Dutti, Pull&Bear, Bershka, Stradivarius, Oysho and Uterque.