Zara parent Inditex earnings updates: Sales rise 10.6 percent to 8.2 billion euros, with growth momentum continuing into second fiscal quarter.
The Spanish fast fashion behemoth saw sales in the first fiscal quarter of 2024 rise 10.6 percent at constant currency to 8.2 billion euros.
The sales numbers were just ahead of analysts consensus, with gross margin slightly softer than expected, “likely reflecting the impact of pricing” as the company has executed a slow and gradual price increase strategy.‘s differentiated business model has helped it to deliver strong outperformance during and after the pandemic,” said RBC analyst Richard Chamberlain.’s sales comparables now become tougher, partly due to consistently strong trends last year.
That result “is better than our forecast and against a tough comparables of 16 percent . This suggests some pent-up demand following a cool and rainy start to spring in southern Europe,” said Chamberlain.
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