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Zara owner Inditex sees revenues hit 26 billion euros for the first time

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Zara parent company Inditex Group’s net sales rose by 3% in full-year 2018 to an all time high of €26.14 billion, underpinned by growth in all of the Group’s geographic regions. Sales in local currencies grew 7%, said the group.

SEE ALSO : Inditex’s Zara unveils new logo, causes internet uproar

For the full-year ending January 31, Inditex’s like-for-like sales growth remained robust, up 4% in FY18, and positive across all regions and brands, as well as in both the online and store platforms.

Inditex net profit rose 2% to €3.44 billion, or 12% in local currencies, while EBITDA and EBIT reached all-time highs, “supported by strong margins,” said the group in a press release.

The Spanish retail conglomerate continued to update its store network with a focus on prime locations and the latest technology. In addition to Zara, the owner of Mango, Bershka and Pull&Bear, as well as Oysho and Zara Home said store space increased by 5%, with openings in 56 markets during the year.

By band, Zara increased its presence to 202 markets, while high-end fashion Massimo Dutti and accessories label Uterqüe also expended their online platforms to 106 new markets, boosting their reach to 184 and 148 markets, respectively.

“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,” said chairman and CEO of Inditex, Pablo Isla.

During the year, Inditex rolled out its next-day delivery service in key e-commerce markets including China, Australia and South Korea, among others, and it will continue to expand the service to other markets in APAC and beyond 2019.

SEE ALSO : Inditex’s Zara unveils new logo, causes internet uproar

For 2018, online sales increased by 27% to €3.2 billion, accounting for 14% of sales in markets where both stores and online are present.

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