#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.

Recover™ secures multi-year recycled cotton agreement with H&M

Recover™ has signed a multi-year agreement with H&M to support the integration of its recycled cotton fiber, RCotton, for use in H&M’s products. Since early 2024, H&M and Recover™ have collaborated on product development, which now enables scaled commercial introduction of Recover™ mechanically recycled cotton into H&M’s collections.

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.

Keeping products moving with Swedish automation at FILTECH 2026

At FILTECH 2026, taking place in Cologne from June 30th to July 2nd, members of TMAS – the Swedish textile machinery association – will highlight how the country’s engineering expertise is enabling filtration manufacturers to increase productivity, improve traceability and reduce dependence on labour-intensive manual processes.

Global Mmeeting of textile technologies, ITM 2026, attracts great interest

ITM 2026, one of the world's most prestigious organizations in the field of textile technologies, opened its doors with the participation of over 1,000 companies and company representatives from 59 countries, as well as thousands of professional visitors from nearly 100 country. Attracting thousands of international visitors on its first day, ITM 2026 once again demonstrated its status as a global meeting point for the textile industry with its advanced technologies on display, newly established business connections, and record-breaking international participation.

Countdown to Textiles Recycling Expo 2026: Brussels prepares for Europe’s textile recycling gathering

With only two weeks remaining until the start of the second edition of the Textiles Recycling Expo 2026, preparations are entering the final phase. The exhibition and conference, dedicated exclusively to textile recycling and circularity, will take place on 24–25 June 2026 at Brussels Expo and is expected to attract stakeholders from across the textile recycling value chain.

Indorama Ventures enables brands to scale circular textiles through proven, traceable supply chains

Indorama Ventures, a global leader in recycled polyester staple fibers and filament yarns, will exhibit at Textiles Recycling Expo in Brussels on June 24–25. At the event, the company will show how brands and textile manufacturers can build traceable, circular textile supply chains by working with proven partners who deliver recycled materials on an industrial scale.