Inditex pulverizes all records and increases profit by 40% in the first half, up to 2,513 million euros

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Inditex continues to reinforce its particular virtuous circle. The company chaired by Marta Ortega has just communicated to the National Securities Market Commission (CNMV) the results for the first half of 2023 and the balance could not be more positive: it once again breaks all records, with a net profit of 2,513 million euros40.1% more than in the same period of the previous year, and a growth in sales of 13.5%, up to 16,851 million.

The textile giant, which has seen revalued the value of its shares on the stock market no less than 60% In the last year – on September 12, 2022 it was trading at 22.38 euros and yesterday it closed the session at 35.79 euros – it continues to give joy to investors. The results for the first half of the year, even better than what the group of analysts expected, reflect the “strong operational performance, based on the creativity of its teams and the good execution of its integrated store and online business model.” .

The company exhibits economic muscle with profit and sales at historical highs. “The results in this semester demonstrate that the talent of our teams consolidates the improvements in the performance of the business model. The permanent commitment to creativity, product quality and customer experience, as well as the determined progress in sustainability, make up a strategy that takes our business model to a higher level”, highlighted the CEO of Inditex, Oscar García Maceiras.

The truth is that the Galician textile empire seems oblivious to the economic context of slowdown in the main world economies and loss of purchasing power of consumers due to the runaway inflation. The spring/summer collections were very well received by customers, with a “very satisfactory” evolution both in store and online, positive in all categories and in all formats. And the first sensations of the autumn/winter campaign are also good, with an increase in sales of 14% between August 1 and September 11 in relation to the same period last year.

Inditex continues to improve its gross margin, one of the indicators most valued by analysts due to the position that it gives it as absolute leader in the market. Specifically, it increased by 14.1% in the first half of the year, reaching 9,801 million euros, and stood at 58.2% of sales, which represents an increase of 27 basis points compared to the first six months of 2022.

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