ZARA owner Inditex sees revenue boosted by AW collections

Inditex has achieved a 11.1% increase in revenue to £22 billion (€25.6 billion) for the first nine months of 2023, driven by "very satisfactory development" both in stores and online.

The owner of ZARA, Bershka and Stradivarius said its Autumn Winter collections were "very well received" by customers.

Inventory was also 5% lower as of 31 October 2023, reflecting a "robust operating performance and the normalisation in supply chain conditions".

Sales were positive in all geographical areas, with new openings carried out in 36 markets. At the end of the period, Inditex had 5,722 stores.

It also continued to see a "very satisfactory" evolution of online sales.

EBITDA increased 13.9% to £6.3 billion (€7.4 billion), whilst net income was up 32.5% at £3.5 billion (€4.1 billion).

Looking ahead, Inditex expects increased sales productivity in its stores, with growth of gross space in 2023 of around 3%.

In a statement, the company said: "Inditex continued with a very robust operating performance due to the creativity of the teams and the strong execution of the fully integrated business model.

"Our key priorities are to continually improve the fashion proposition, to enhance the customer experience, to increase our focus on sustainability and to preserve the talent and commitment of our people."