The execution of the business model was very strong, shared the company. Gross profit increased 7.6% to 22.3 billion euros. The gross margin reached 57.8%, while the control of operating expenses has been rigorous, with operating expenses having increased 6.5%, below sales growth.
Net income increased 9.0% to 5.9 billion euros, building on the strong growth over recent years.
In the year, store sales grew 5.9% reflecting incremental footfall and increasing productivity, while online sales also grew satisfactorily at 12.0% to reach 10.2 billion euros, with Europe (excl. Spain) having reached the highest increase from 48.7% in 2023 to 50.6% in 2024 when combining the two. The ongoing store optimization and digitalization program continues to be key. The higher level of store sales has been achieved with 2.0% more commercial space and 2.3% less stores than in 2023. In 2024, gross new space increased 5.8%.
In 2025, Inditex estimates an ordinary capital expenditure of around 1.8 billion euros. This investment will be mainly dedicated to the optimization of our commercial space, its technological integration and the improvement of our online platforms.
The company’s logistics expansion plan is on track: the two-year extraordinary investment program, focused on the expansion of the business, allocates 900 million euros per year to increase logistics capacities in each of the 2024 and 2025 financial years.
Spring/Summer collections have been well received by customers. Store and online sales in constant currency, adjusted for the calendar effect of an extra trading day in February 2024 due to the leap year, increased 4% between 1 February and 10 March 2025 versus the same period in 2024, yet slower than the 11% increase from 2023 to 2024. In the last commercial week, store and online sales in constant currency increased 7%.
