The textile giant Inditex just presented his results achieved during the first quarter of this 2023and one more year it exceeds itself, beating the large figures already presented in the same period of 2022.
The company has managed to raise its net profit until the 1,168 million euros, 54% more than in the first three months of 2022, when he earned 760 million euros. Furthermore, this is the first time that Inditex exceeds the barrier of 1,000 million euros in profits during the first quarter of the year.
Let’s remember that the textile group has just closed a 2022 where it has experienced strong growth and, consequently, a great impulse. Increasing its net profit by 27%, its total sales by 17.5% and its online sales by 4%. With these figures, it is not surprising that its projection continues to be very favourable.
Inditex sales also mark a new milestone
The record in profits achieved during the first quarter of 2023 by the textile giant has not been the only one, Inditex adds to this the fact that it has managed to exceed 7,000 million euros in sales at the start of the year. Specifically, total sales reached 7,611 million euros, increasing by 13% compared to the €6,742M obtained in the same period of 2022.
Although on this occasion exact data on the percentages of variation in physical and online sales have not been provided separately compared to the previous year, the report states that The increase in total sales has shown “a very satisfactory evolution both in (physical) and online stores”. Likewise, it has been highlighted that sales were positive in all geographic segments.
It should be noted that although during the first quarter of 2023, Inditex has opened in 17 markets (already present in 213), the number of physical stores He stood at 5,801. Which is 622 less than in the same period of 2022 (6,423), when it had already closed 335 compared to 2021.
With a view to the next quarterly results, the company highlights that “the Spring/Summer collections continue to be very well received by our clients. Store and online sales at a constant exchange rate between May 1 and June 4, 2023 have grown by 16% over the same period in 2022«.
On the other hand, it should be noted that, in May, Inditex started operations in Cambodia. For this, a Zara was opened in the Chip Mong Mega Mall, located in the capital Phnom Penh, and a web domain was inaugurated for this market.
Refering to Roadmap that the company wants to follow to boost its long-term growththis is not far from the proposal presented when it announced the results of the 2022 financial year. As they have reflected in the report: «Our priorities are to continuously improve our fashion proposal; optimize the customer experience; increase our focus on sustainability; and preserve the talent and commitment of our people.” Likewise, they have already advanced that they are working on a series of initiatives related to these key areas for the coming years.
Throughout 2023, Inditex proposes a series of commercial initiatives based on creativity, innovation, design and quality. Like Zara Woman Atelier, Massimo Dutti Moment de Detente or Casa Stradivarius.
To promote this area, the group is developing several proposals: new designs for Zara stores created by his Architecture Studio, and development of new security technology Put an end to hard alarms.
As discussed in the report, Inditex “advances in meeting all the objectives of the sustainability roadmap set for 2023 to 2025”. An example of actions that lead it to fulfill this mission is the investment made in 2022 in Circa textile technology company dedicated to recycling fabric scraps with blends of fibers, in pursuit of circularity in fashion.
As a result of this alliance, in April Zara presented a women’s fashion capsule made with recycled polyester and lyocell obtained from textile waste with a mixture of polyester and cotton.
On the other hand, it should be noted that the initiative Zara Pre-Owned will be extended to Spain, Germany and France during the second half of 2023.
Finally, the company claims to be working on promote “stimulating work environments in which the growth and continuous learning of our teams is promoted”. To do this, during this first quarter of 2023 about 600,000 hours were invested in trainingpromoting the personal and professional development of employees.
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