Inditex turbocharge and return to pre-pandemic levels. In the first nine fiscal months of the 2021 financial year (February-October), the Spanish clothing giant which owns the brand Zara he scored a net profit of 2,5 billion euros, a result that exceeds by almost four times (+273%) the one recorded in the same period of 2020.
In particular, in the solo third quarter of the financial year, the parent company of Zara took home a record profit of 1,23 billion, the all-time high for the company, achieved thanks to a strong progression of sales in boutiques and on the internet (+ 42% on an annual basis).
As for the turnover, in the nine months it reached 19,33 billion, a clear improvement compared to the 14,1 billion realized between February and October last year. In this case, however, the comparison with the pre-Covid period is still slightly negative: in fact, in the same period of 2019, revenues had reached 19,8 billion euros.
In detail, online sales they proved to be particularly dynamic, achieving growth of 28% on an annual basis and 124% compared to 2019. These results are close to analysts' forecasts.
In the first half of 2020, Inditex ended up in the red for the first time in almost twenty years of activity due to the closure of 90% of its stores worldwide due to the pandemic.
The most recent balance sheet data "demonstrate once again the solidity of our model", based on "a complete integration of stores and online", he commented Pablo Island, president of Inditex, who is preparing to abdicate after more than 10 years at the helm of the company. From next April, in fact, the scepter of command will pass into the hands of Marta Ortega, daughter of Spanish multibillionaire Amancio Ortega, founder and main shareholder of Inditex.
