Inditex seems to have no ceiling. The fashion group that owns Zara, Massimo Dutti and Bershka once again pulverized its sales record in one quarter and far exceeded the forecasts of analysts, who are looking closely at the profitability of the textile giant.
The multinational founded by Amancio Ortega and chaired by Marta Ortega earned 1,168 million euros in its first fiscal quarter (from February to April), 54% more than in the same period of 2022, which is the best start to the year, if well in the comparison it has had to do with the provision made last year for the exit of its business in Russia.
Sales reached 7,611 million euros, 13% more year-on-year, according to the accounts sent this Wednesday to the CNMV. Inditex highlights that it has grown in all its markets and formats. This year it has already opened in 17 countries, adding a total of 5,801 stores as of April 2023, 622 less than a year earlier. Zara brings together the majority of establishments, with 1,878 stores, to which are added 426 Zara Home stores.
The group's forecasts for the second quarter are also positive. Sales both in store and online at a constant exchange rate between May 1 and June 4 of this year have grown by 16% compared to the same period in 2022, they underline. And he continues to see "great growth opportunities." For this 2023, it estimates an investment of 1,300 million euros and, among other projects, it will advance with the redesign of Zara stores.
The company's architecture team has created a new store concept with digital spaces, new fitting rooms, self-checkout areas or online collection points. This model is already installed in Madrid and will be applied in the openings, expansions or relocations of Zara in Paris Champs Elysees, London Straford, Miami Dadeland, Bombay Phoenix Palladium and Johannesburg Sandton.
The Inditex Board of Directors will also propose the approval of a dividend of 1.20 euros per share in two payments: May 2 and November 2 of this year. He also announces changes in the Council, with the departure of Emilio Saracho.
