Companies

Inditex posts strong yearly performance

Mar 16, 2023 Spain

The Spanish-based fashion group, owner of Zara and Stradivarius, among others, reported a sales growth of 17.5% in 2022, as compared to the prior year, reaching 32.6 billion euros

“The excellent results of 2022 show the strength of our business model and its ability to move towards the next level of development in which our fashion proposition, the experience of our customers, our commitment to sustainability and the talent of our teams will continue to be key”, commented Óscar García Maceiras, CEO of Inditex.

Full Year 2022 Results

In 2022, Inditex's sales amounted to 32.6 billion euros, which reflects an increase of 17.5% over 2021; in constant currencies, sales grew by 18.%.

The group detailed that store sales increased by 23% last year due to the increasing footfall and store productivity, and that such was achieved with 10% fewer stores and 6% less commercial space than in 2021. “Our ongoing store optimisation and digitalisation programme continues to be key”, reads the statement. Meanwhile, in the same period, Inditex's online sales rose by 4% over 2021, reaching 7.8 billion euros.

The company's gross profit increased by 17% in 2022 to 18.6 billion euros, on a comparable basis to the previous year, with the gross margin declining 8 basis points to 57%.

In the twelve months to the 3^1stof December, the fashion group's EBITDA grew by 20%, amounting to 8.6 billion euros, while the EBIT came in at 5.5 billion euros, up by 29%, year-over-year. Moreover, Inditex posted an annual net income of 4.1 billion euros, up by 27%, as compared to fiscal 2021.

Image Credits: theimpression.com

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