Tuesday, August 16

Inditex reaches an all-time high in sales and profit by earning 2,500 million


Inditex has presented before the market opening the accounts corresponding to the first nine months of its fiscal year 2021-2022 (between February 1 and October 31), a period in which it registered a net profit of 2,500 million euros, which represents an increase of 273% compared to a year before, when it earned 671 million euros.

The sales of the group amounted to 19,325 million euros, 37% more compared to the same period of 2020. In this way, Inditex reached its historical maximum in sales and profits in a third quarter, the second in a row after the period between May and July, when they already managed to be the highest in the company in a second quarter.

In addition, it exceeds the bar of cash generation and the company reaches a net financial position of 9,569 million euros, its historical maximum, above the 8,265 million in 2020 and the 7,734 million in 2019.

Store sales have continued to improve in the third quarter. At constant exchange rates, they have exceeded the figures for the third quarter of 2019, with 11% fewer stores. At the same time, Inditex continues to record a “remarkable” growth in online sales which, at constant exchange rates, exceeds that of the first nine months of 2020 by 28%, and exceeds by 124% the bar reached in the same period of 2019, prior to the pandemic.

The company expects online sales to exceed 25% of total sales in 2021.

The president of Inditex, Pablo Isla, has affirmed that these results are “very satisfactory” and show once again the solidity of the business model, the quality and commitment of the teams, and the potential of the company’s strategy integration between the physical and digital world.

Reference-www.estrategiasdeinversion.com

Leave a Reply

Your email address will not be published.