Inditex Records 7.1% Increase in Sales in the First 9 Months of 2024
Inditex, owner of brands such as Zara, Massimo Dutti, Oysho, Zara Home, Pull& Bear, Oysho, Zara, Massimo Dutti, Oysho, Zara Home, Zara Home, Pull& Bear, Oysho, continued to deliver a very strong performance in the first 9 months of 2024, thanks to the creativity of the teams and the strong implementation of the fully integrated store and online business model. Sales in the first nine months of 2024 reached 27.4 billion euros, up 7.1%.
Fall/Winter collections were very well received by customers. In the first nine months of 2024, sales were up 10.5% at constant exchange rates, a very satisfactory development both in stores and online. Sales were positive across all concepts.
Gross profit increased by 7.2% to 16.3 billion euros. The gross profit reached 59.4% (up 4% compared to the first nine months of 2023). All expense items showed a positive development. Operating expenses increased by 7.0%, below sales growth. EBITDA increased by 7.2% to €8.0 billion. Operating profit (EBIT) increased by 9.3% to €5.7 billion. Profit before tax (PBT) up 9.9% to €5.8 billion. Net profit increased by 8.5% to €4.4 billion. The final dividend of 0.77 euro per share for fiscal year 2023 was paid on November 4, 2024. At constant exchange rates, in-store and online sales from November 1 to December 9, 2024 increased by 9% compared to the same period in 2023. The company continues to generate strong cash flow and reinvest in its business.