For the first quarter Inditex’s net profit was up ten per cent.
The company’s net cash position increased by nine per cent. First quarter sales were up five per cent from last year. In-store and online sales showed a 9.5 per cent increase in local currencies between May 1 and June 7 – up from the 6.5 per cent in the previous corresponding period.
The clothing retailer’s record first-quarter sales and a rise in profits were helped by its push of stitching together its online and physical businesses. The retailer’s online business accounts for 12 per cent of its net sales. The figures demonstrate the solidarity of the company’s model, whose profitability and cash flow generation continues to grow owing to the group’s commitment to customer-driven quality fashion. Digital transformation of the integrated store and online sales platform and sustainability are key pillars of the company’s strategy.
Inditex owns the brands Zara, Pull & Bear, Massimo Dutti, Bershka, Stradivarius, Oysho and Uterque across its network of almost 7,500 physical shops. It also operates online in 49 markets. All of the group’s brands will adopt an integrated stock management system by 2020 in all the countries where there is a physical store presence.
