News

Zara Reports Strong Sales in First Half of the Year

1 Mins read

Zara owner Inditex has exceeded market expectations with its first-half sales, driven by a solid performance both online and in stores. The Spanish fashion powerhouse, which also owns popular brands like Bershka, Massimo Dutti, and Pull&Bear, has reported a net profit of €2.51 billion ($2.70 billion) for the six months ended July 31, a significant increase from €1.79 billion last year.

In terms of sales, Inditex generated €16.85 billion during this period, surpassing the €14.85 billion recorded in the corresponding period in the previous year. Analysts had predicted first-half sales of €16.68 billion, as indicated by a poll of estimates compiled by FactSet.

Inditex’s earnings before interest and taxes rose to €3.16 billion in the first half, compared to €2.43 billion in the same period last year. Similarly, earnings before interest, taxes, depreciation, and amortization increased to €4.66 billion from €4.03 billion.

The company stated that it experienced an operating margin growth from 16.4% to 18.8%, while the gross margin reached 58.2%.

Inditex maintains its outlook for the full year, anticipating a stable gross margin with a deviation of plus or minus 50 basis points.

These impressive results come as Inditex continues to stay ahead of its competitors in a challenging business landscape. AB Foods, the parent company of Primark, recently revised upwards its forecast for 2023, indicating an expected increase in profitability for its sugar and clothing-retail divisions despite a difficult macroeconomic environment. Meanwhile, H&M Hennes & Mauritz, headquartered in Stockholm, is scheduled to release its sales report on Friday.

Related posts
News

Bitcoin Hits Record $113K as $575M in Shorts Get Liquidated - TokenPost

1 Mins read
Bitcoin (BTC), the world’s largest cryptocurrency by market capitalization, soared to a new all-time high of $113,541 on the Bitstamp exchange at…
News

Govt enacts law to regulate VAs, plans pilot for digital currency - Daily Times

2 Mins read
The Virtual Assets Act, 2025 creates the Pakistan Virtual Asset Regulatory Authority (PVARA), a new autonomous regulator to supervise the virtual asset…
News

Funeral home owner accused of stashing decaying bodies expected to plead guilty in federal court

1 Mins read
DENVER – A funeral home owner in Colorado accused of storing nearly 190 decomposing bodies in a room-temperature building and defrauding the…

Leave a Reply

Your email address will not be published. Required fields are marked *