During the quarter ending 30 April 2024, net sales for Inditex amounted to 8.15 billion euros, a 7% increase from the 7.61 billion euros recorded in the corresponding quarter of the previous fiscal year. The company also reported a pick-up in recent sales from its Spring/Summer collections, however there still has been a relative slowdown compared to the same period last year.
Regarding market acitivity, Inditex carried out openings in 28 markets in Q1, which also includes the reopening of 48 stores, as well as online operations, in Ukraine.
The company sees further growth in Q2 as well, considering that store and online sales in constant currency between May 1 and June 3, 2024, have already seen a 12% increase compared to the same period in 2023.
As for future plans, Inditex said it planned to invest 900 million euros per year through 2025 on expanding its logistics capacity, with a focus on Europe. The company also wants to continue focusing on a unique fashion proposition, enhancing the customer experience, and new sustainability measures.
