The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.

Inditex’s Nine-Month Profit Soars 32.5%, Sales Growth Slows Down

New double act reinforces Ortega family grip on Inditex. — Zara owner Inditex said its net profit rose to €4.1 billion ($4.42 billion) in line with analysts. (Shutterstock)

Reuters

13 December 2023

Zara owner Inditex said on Wednesday its net profit jumped 32.5 percent jump in February-October, but the fast fashion giant’s sales growth in the nine-month period slowed down from a year ago amid tougher times for consumers.

The world’s biggest fashion retailer said its net profit rose to €4.1 billion ($4.42 billion) in line with analysts, most of whom are still betting on the company’s ability to sell fashion faster and drawing more aspirational shoppers.

By Corina Pons; Editor: Inti Landauro

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Inditex Places Order for Recycled Fibres Amid Industry Effort to Quell Market Jitters

The Zara-owner will buy 2,000 tonnes of fibre made using raw materials from Renewcell, sending a signal of support after a weak sales update sent the Swedish recycler’s share price plunging this month.

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