#Retail & Brands

2024-09-12

INDITEX reports a very strong operating performance in its interim report for the first half of financial year 2024

In 1HY2024, Inditex continued with a very robust operating performance due to the creativity of the teams and the strong execution of the fully integrated store and online business model.

Óscar García Maceiras, CEO, says: “The design and quality of our fashion proposition and the experience we offer our customers are, together with the efficiency and increasing sustainability of our operations, the keys to the solidity of these results. Our fully integrated model continues to generate opportunities for profitable growth across all concepts, regions and channels."

The Spring/Summer collections have been very well received by the customers. Sales grew 7.2%, to reach €18.1 billion, showing very satisfactory development both in stores and online. Sales were positive in all concepts. Sales in constant currency grew 10.2%. Gross profit increased 7.5% to €10.5 billion. The gross margin reached 58.3% (+19 bps versus 1H2023). All expense lines have shown a favourable evolution. Operating expenses increased 6.8%, below sales growth.

EBITDA increased 8.1% to €5.0 billion. EBIT increased 11.9% to €3.5 billion and PBT 10.6% to €3.6 billion.Net income increased 10.1% to €2.8 billion.The robust operating performance has resulted in strong cash flow generation. The FY2023 final dividend of €0.77 per share will be paid on 4 November 2024.

Openings have been carried out in 34 markets. At the end of the period Inditex operated 5,667 stores. Inditex continues to roll out its global sales platform.

Autumn/Winter collections have been very well received by the customers. Store and online sales in constant currency between 1 August and 8 September 2024 increased 11% versus the same period in 2023.

www.inditex.com

Inditex will fund the university education of 50 female textile industry workers in Bangladesh for five years

Inditex and the Asian University for Women have launched a new scholarship program to support the academic training of female textile factory workers in Bangladesh. Inditex will allocate €3.75 million to fund this initiative, enabling 50 women to access pre-university and university education over the next five years, providing them with new opportunities for personal and professional growth.

Inditex reports strong Q1 2024 performance

Inditex's sales grew by 7.1% in Q1 2024, reaching €8.2 billion. Sales in constant currency rose by 10.6%. Gross profit increased by 7.3% to €4.9 billion, with a gross margin of 60.6%. Operating expenses increased by 6.4%, below the sales growth rate. EBITDA rose by 8% to €2.4 billion, while EBIT grew by 10.3% to €1.6 billion. Net income saw a 10.8% increase, reaching €1.3 billion.

Recover™ secures multi-year recycled cotton agreement with H&M

Recover™ has signed a multi-year agreement with H&M to support the integration of its recycled cotton fiber, RCotton, for use in H&M’s products. Since early 2024, H&M and Recover™ have collaborated on product development, which now enables scaled commercial introduction of Recover™ mechanically recycled cotton into H&M’s collections.

GORE-TEX® KIDSWEAR launches innovative membership scheme for kids’ jackets

With its revolutionary new membership model, GORE-TEX® Kidswear now offers families a simple, flexible and sustainable way of kitting out their children in top-quality jackets. It is aimed at the parents of children aged between five and ten and kicks off with a choice of functional winter jackets.

Barmag presents the next generation of POY production – energy-efficient and partial-automated

With POY 2.0, Barmag is introducing a completely redesigned spinning concept that takes the production of partially oriented yarn (POY) to a new level in terms of technology and economy. The solution, which was presented to a selected audience of experts for the first time at ITMA Asia + CITME 2025, was met with great enthusiasm: several yarn producers worldwide immediately expressed their interest in a pilot plant.

Textile‑to‑textile recycling leader Circulose joins Spinnova’s ecosystem to accelerate technology scale‑up

Textile‑to‑textile recycling leader Circulose joins Spinnova’s ecosystem (consortium) to help advance the scale‑up of Spinnova’s technology. Spinnova has actively sought partners to accelerate commercial scale‑up, and Circulose, as a key player in textile recycling, strengthens the ecosystem by providing a raw material that is in high demand across the industry.