Inditex raises its profits by 30% to a record level of $5,381 million

Inditex raises its profits by 30% to a record level of $5,381 million

Expectations were met and Inditex broke its record, surpassing €5,000 million in profits. The results of the Galician textile giant in the fiscal year 2023 reflect a net profit of 5,381 million euros, a figure that represents an increase of 30.3% compared to the previous year, setting a new historical record for the company. The company, which will be headed by A Coruña Marta Ortega, the founder's daughter, from 2022, closed last year with global sales of 35,947 million euros, representing a growth of 10.4%. The company announced early yesterday that it will raise the dividend by 28%, to €1.54 per share.

“2023 was a year of excellent results for Inditex. Thanks to the commitment, effort and dedication of our professionals, we were able to take advantage of the different opportunities presented to us for all forms of our commercial advertising,” summed up Oscar García Maceras, CEO of Inditex, in a press conference after learning about the budget. General Assembly for the past year. In 2023, the multinational saw “positive, efficient, profitable and responsible” growth, it said.

Sales of the company founded by Amancio Ortega have seen a “very satisfactory” development in the past year, as the company itself says, both in physical stores and online, positive in all geographies and in all sales formats with the operation of the multinational company headquartered in Arteixo. The CEO of the multinational company confirmed that “sales rose to double digits.”

“Inditex's performance in 2023 was excellent. Our teams were able to capitalize on opportunities to continue to grow profitably. We are investing to drive future growth,” Maceras continued.

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New investments

In this sense, the Galician chain that owns brands such as Zara, Bershka, Stradivarius, Lefties and Oysho plans to invest 1.8 billion euros this year “to further improve the customer experience in physical and online stores”, and to improve its platforms as well. And “continue to maintain that integration” between the physical point of sale and the Internet. Another 1.8 billion euros will be added to this package, between this year and next, in a logistics expansion plan, the center of which is a new logistics warehouse for Zara in Zaragoza.

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This investment, totaling €3.6 billion between 2024 and 2025, “is consistent with continuing to identify strong opportunities for growth that we believe apply to all our business formats and all our markets,” Maceras noted.

The first package, amounting to €1,800 million of regular investment, will be used to further transform its store complex and its online proposition, a channel through which €9,000 million was traded this year (+16%). “For some time, we have been dealing with a program to improve and improve our commercial presence through different stores,” Maceras wanted to specify, with regard to a group of institutions, which, despite having fallen by 2% in one year on the other hand, had 4%. of commercial space, indicating that larger buildings are being chosen.

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