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Inditex sales hit all time high

Full-year net sales at Inditex increased 3% year on year to hit an all time high of €26.1bn (£18.6bn), driven by growth in all markets.

Like-for-like sales for the year to 31 January were up 4% on 2018 and were positive across all regions and brands.

Online sales were up 27% to €3.2bn (£2.8bn). 

Gross profit increased by 4% to €14.8bn (£12.7bn) and gross margin improved by 39 basis points to 56.7%.

EBITDA was up 11% in local currencies to €5.4bn (£4.6bn). Net profit increased by 2% to €3.4bn (£2.9bn).

Zara increased its presence to 202 markets during the year, while Massimo Dutti and Uterqüe expanded their online platforms to 106 new markets, boosting their reach to 184 and 148 markets, respectively.

Inditex’s capital expenditure amounted to over €1.6bn (£1.4bn) during the period to complete the rollout of RFID technology across all brands and expand the group’s integrated stock management system.

In current trading, in store sales increased by 7% from 1 February to 9 March and the retailer estimates like for-like sales growth of 4%-6% for the full year 2019.

The chairman and CEO of Inditex, Pablo Isla, said: “Our investments in both logistics and stores in order to leverage the integrated platform, as well as our continued focus on prime locations, has enabled Inditex to offer customers a consistent and appealing proposition globally, across all our brands and channels”.

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