Inditex’s net profit for the first half of the year soared by 40% – Kommersant
[ad_1]
Based on the results of the half year net profit one of the largest retailers in the world, Inditex, grew by 40%, exceeding analysts’ forecasts. The net profit of the Spanish company, which owns the Zara, Bershka, Massimo Dutti and other chains of stores, amounted to €2.5 billion, while analysts expected €2.38 billion.
Inditex sales during the reporting period increased by 13.5% and amounted to €16.9 billion. Gross margin reached 58.2%, EBITDA increased by 15.7% to €4.7 billion, EBIT by 30.2 %, up to €3.2 billion. Over the past six months, the company has entered 20 new markets. At the same time, sales increased, despite the fact that in the second quarter the company reduced the number of its stores worldwide from 5,801 to 5,745.
The highest share of sales came from the Zara brand. Sales of the brand increased by 13.1% compared to the first half of the previous year and amounted to €12.4 billion. Sales of Massimo Dutti increased by 16.8%, to €842 million, Bershka – by 12.3% to €1.2 billion
Europe (excluding Spain) remains Inditex’s largest market, accounting for 47.8% of the company’s sales. A year earlier in the same period, this share was 46.3%. The second largest market is North and South America with a sales share of 19.4%.
Meanwhile, Inditex shares in Europe reacted to the publication of earnings with a fall of 1.2%. Since the beginning of this year, the company’s shares have increased by 38%.
Read about the retailer’s results for the 2022 financial year in the Kommersant article “Inditex and H&M face challenges and growth”.
[ad_2]
Source link
