Monday, October 2, 2023

Inditex, plus Europe and plus Spain: weight increases up to 62.2%

Inditex focuses on Europe. The Galician giant increased the weight of its sales in Spain and Europe its main markets, while it is reduced in the rest of the world, compared to the end of the fiscal year corresponding to 2022, according to the results of the first half announced to the public this Wednesday.

specifically, Spain accounted for 14.4% of sales in the first six months of Inditex’s financial year, the same figure as last year, while sales in Europe (without Spain) went from accounting for 47.5% to representing 47.8%. In total, the sales of the continent as a whole represent 62.2%, compared to the 61.9% they represent in 2022 as a whole.

For its part, sales in America and Asia and around the world lost weight in the company’s business. Sales in the Americas accounted for 19.4% of business during the first six months of the year, six-tenths less than in 2022. However, Inditex emphasizes that the United States is the second largest market for the company a position that the country has held since the departure of the group from Russia due to the outbreak of war in Ukraine in February 2022. The company has plans to make thirty openings and expansion in the US market in the next three years .

In Asia and the rest of the world, sales managed to gain more weight up to 18.4%, three tenths more than registered last year. Despite the rebound, sales outside Europe lost weight in Inditex’s business in the first six months of the year and accounted for 37.8%, compared to the 38.1% they represented in 2022.

Compared to the first half of last year, Europe increased its weight by 1.5 percentage points, while Spain gained 0.2 percentage points. In contrast, America and Asia lost weight by 0.7 percentage points and one percentage point, respectively.

Inditex has closed the first semester with a turnover of 16,851 million euros, with a growth of 13.5%. The net profit amounted to 40.1%, up to 2,513 million euros. Between February 1 and July 31, Inditex invoiced 16,851 million euros. In the second quarter alone, sales exceeded 9.2 billion euros, an increase of 14% and more than expected by analysts.

Nation World News Desk
Nation World News Desk
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