Zara, Pull & Bear and Oysho brand owner’s profit up 54% in the quarter
[ad_1]
Net profit of the Spanish retailer Industria de Diseno Textil SA (Inditex) grew in the first quarter of the financial year 2023 (February-April of the calendar year) by 54% year on year and reached €1.2 billion.
Group store chain sales grew from €6.74 billion to €7.61 billion in the quarter. At the same time, as noted in the report, sales increased in all chains and in all markets. And the group’s gross profit increased by 34 basis points at once compared to last year and reached 60.5%.
Inditex, owned by Spanish billionaire Amancio Ortega, operates clothing and footwear chains such as Zara, Pull & Bear, Massimo Dutti, Bershka, Stradivarius and Oysho.
[ad_2]
Source link
