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Inditex maintains rebound from pandemic as sales hit record highs

Jeremy Lim
15 December 2021

Inditex has reported record sales and profits as the group maintains its rebound from the Covid-19 crisis to surpass pre-pandemic trading levels in 2019.

The Spanish retail giant and owner of Zara, Massimo Dutti and Pull & Bear among others, said sales in the third quarter of 2021 were 21% higher than the same period in 2020 and 10% higher than the period in 2019, prior to the pandemic.

Inditex added that its AW21 collections were very well received by customers, with its store sales improving progressively while online sales continue to grow strongly.

For the nine months to October 31, Inditex's net sales reached €19.33bn, a 37% increase on the same period in 2020, and net profit reached €2.5bn, almost quadruple the level of the prior period. The group’s net cash reached €9.6bn, while gross profit reached €11.4 billion, 40% higher compared to the same period in 2020.

Inditex recently announced that Marta Ortega, the daughter of the group’s founder, will take over as chair of the board of directors next April, while executive chairman Pablo Isla will end his 17-year stint with the company in March next year.

The group currently has 6,657 stores, having opened 179 new stores in 39 markets during the nine months period to 31 October 2021.

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