Zara-owner Inditex sees revenue rise to €18.1bn amid well-received collections
- Inditex reports a 7.2% increase in H1 sales to €18bn
- Profit before tax rises by 10.6% to €3.6bn
- Net income up 10.1% to €2.8bn
- Gross profits rise by 7.5% to €10.5bn
- EBITDA increases by 8.1% to €5bn
- Sales positive across all concepts and channels
- Spring/Summer collections well received
- Autumn/Winter collections see 11% sales growth
- Inventory down 1.7% as of July 2024 compared to 2023
- CEO Óscar García Maceiras credits design, quality, efficiency, and sustainability for results
Inditex, the owner of Zara, has reported a 7.2% year-on-year increase in revenues for the first half of 2024, reaching €18.1bn. Profit before tax rose by 10.6% to €3.6bn, while net income increased by 10.1% to €2.8bn and gross profits grew by 7.5% to €10.5bn. EBITDA also saw an increase of 8.1% during the period, reaching €5bn. Sales were positive across all concepts and channels, leading to a 10.2% growth in constant currency sales. The Spring/Summer collections have been well-received by customers, with Autumn/Winter collections seeing a 11% rise in sales between August 1 and September 8 compared to the same period last year. Inventory was down 1.7% as of July 24, 2023, considered ‘of high quality’. CEO Óscar García Maceiras attributes the strong results to design, quality, efficiency, and sustainability.
Factuality Level: 10
Factuality Justification: The article provides accurate information about Inditex’s financial performance, including revenue, profit, gross profits, EBITDA, sales growth, and inventory levels. It also quotes the CEO of Inditex, providing a clear explanation for the results. The information is relevant to the topic and not sensationalized or opinionated.
Noise Level: 2
Noise Justification: The article provides relevant information about Inditex’s financial performance and customer reception of their collections without any irrelevant or misleading content. It also stays on topic and supports its claims with specific numbers and percentages.
Financial Relevance: Yes
Financial Markets Impacted: Inditex’s financial performance impacts its stock price and the retail sector
Financial Rating Justification: The article discusses Inditex’s financial results, including revenue, profit, and inventory levels, which can affect the company’s stock price and the overall retail industry.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of an extreme event in the text.
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