#Retail & Brands

2024-06-13

Inditex reports strong Q1 2024 performance

Inditex's sales grew by 7.1% in Q1 2024, reaching €8.2 billion. Sales in constant currency rose by 10.6%. Gross profit increased by 7.3% to €4.9 billion, with a gross margin of 60.6%. Operating expenses increased by 6.4%, below the sales growth rate. EBITDA rose by 8% to €2.4 billion, while EBIT grew by 10.3% to €1.6 billion. Net income saw a 10.8% increase, reaching €1.3 billion.

Inditex's Board proposes a FY2023 dividend of €1.54 per share, split into two payments of €0.77 per share. The first was paid on May 2, 2024, and the second will be paid on November 4, 2024.

Inditex opened stores in 28 markets in Q1 2024, including the launch of its first stores in Uzbekistan. Additionally, 19 stores in Ukraine reopened on April 3, 2024, after a temporary closure, totaling 48 reopened stores in the market.

The Spring/Summer collections are performing well, with a 12% increase in store and online sales from May 1 to June 3, 2024, compared to the same period in 2023. Inditex expects to continue its growth trajectory, focusing on fashion innovation, enhancing customer experience, sustainability, and leveraging team talent.

Planned investments for 2024 include €1.8 billion in ordinary capital expenditure and a €900 million per year logistics expansion for 2024 and 2025. New security technology will be fully operational in Zara stores in 2024 and progressively implemented across all brands.

The Annual General Meeting is scheduled for July 9, 2024. Board proposals include the renewal and appointment of several independent and proprietary directors, with a reduction of the mandate for new board members to two years.

Inditex continues to capitalize on growth opportunities, driving innovation and maintaining a strong market position.

Inditex will fund the university education of 50 female textile industry workers in Bangladesh for five years

Inditex and the Asian University for Women have launched a new scholarship program to support the academic training of female textile factory workers in Bangladesh. Inditex will allocate €3.75 million to fund this initiative, enabling 50 women to access pre-university and university education over the next five years, providing them with new opportunities for personal and professional growth.

GORE-TEX® KIDSWEAR launches innovative membership scheme for kids’ jackets

With its revolutionary new membership model, GORE-TEX® Kidswear now offers families a simple, flexible and sustainable way of kitting out their children in top-quality jackets. It is aimed at the parents of children aged between five and ten and kicks off with a choice of functional winter jackets.

The Address of innovation and investment in textile technologies: ITM 2026

Sales for ITM 2026, one of the world’s most comprehensive and prestigious exhibitions in textile technologies, are continuing at full steam. The record number of exhibitors and visitors achieved at ITM 2024 once again proved the industry’s confidence and the commercial success of the exhibition; meanwhile, the strong interest shown in ITM 2026, to be held on 9-13 June 2026, has far exceeded expectations.

STOLL in focus:

At the beginning of this year, KARL MAYER announced that it would be shifting its focus back to its core areas of warp knitting, warp preparation and technical textiles. As part of this strategic realignment, the flat knitting machine business under the STOLL brand will be discontinued. The Reutlingen plant will close down on 31 October 2025. Production in China will end in December 2025. This was an extremely difficult decision for KARL MAYER.

Heimtextil 2026 strengthens the global home textile industry with trends, designs and AI technologies

With an optimised hall layout, progressive design collaborations, inspiring trends and AI-driven innovations, Heimtextil 2026 reacts to the current market situation – and offers the industry a reliable constant in challenging times. Under the motto ‘Lead the Change’, the leading trade fair for home and contract textiles and textile design shows how challenges can be turned into opportunities. From 13 to 16 January, more than 3,100 exhibitors from 65 countries will provide a comprehensive market overview with new collections and textile solutions. As a knowledge hub, Heimtextil delivers new strategies and concrete solutions for future business success.