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Sales jump at Inditex

Revenue at fast fashion giant Inditex jumped 11.5% for the six months to 31 July to €11.7bn (£10.3bn) compared with 2016, following growth across all markets and all brands.

Like-for-like sales were up 6% year on year, while net profit was up 9% to €1.4bn (£1.2bn).

The group continued to invest in areas related to the company’s growth strategy during the period, opening, refurbishing and renovating stores as well as upgrading and modernising its facilities and logistics platforms. Capital expenditure for the full year is estimated at €1.5bn (£1.3bn). 

The retail group opened new stores in 35 markets during the six months, taking its total to 7,405.

In June, work began on the construction of a new logistics centre in A Laracha (Galicia, Spain), and in September construction started on the logistics hub planned for Lelystad (Netherlands), which will support the existing central logistics platforms in Spain.

During the half Inditex introduced an automatic click and collect point into the Zara store in Marineda in A Coruña in Spain. Shoppers can use a QR code or pin number to collect orders placed online. A robot behind the mailbox platform moves through an 8 metre shaft to deliver up to 700 packages simultaneously.

In current trading, in-store and online sales increased by 12% in constant-currency terms between 1 August and 17 September.

Zara will launch online in India for the first time on 4 October.

Chairman and CEO Pablo Isla said the “strength and sustainability of the business’s integrated offline-online store model, continues to deliver growth, while creating value for society and the environment in which it operates, including job creation across its markets.”

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