#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.

Circ launches first denim collection with H&M featuring TENCEL™ | Circ® with REFIBRA™ technology

Circ today announced that the first men's denim collection featuring TENCEL™ | Circ® with REFIBRA™ technology is now available at H&M, marking the commercial delivery of this unique pilot project first announced in October 2025. Featuring two styles available across the UK, Scandinavia, Central Europe, Eastern Europe, South Europe, Turkey, North America, Mexico, Canada, and the Middle East, the launch brings TENCEL™ | Circ® with REFIBRA™ technology into H&M's standard men's denim assortment for the first time.

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.

180 years of TESTEX: From Zurich silk testing to global certification

For 180 years, TESTEX has developed alongside the textile industry while maintaining the same underlying purpose: creating trust through independent and reliable measurement. Founded in Zurich in 1846 as the Zurich Silk Conditioning Institute, TESTEX has grown from a local institution serving the silk trade into an international Swiss testing and certification institute for textiles and leather.

Moving Advanced Recycling from Innovation to Implementation

The Advanced Recycling Conference 2026 explores technologies, markets, financing and scale-up of innovative recycling solutions for waste streams including mixed plastic waste, textiles and PVC. Europe’s chemical and materials sector faces growing pressure to close carbon loops, strengthen raw-material safety and resilience and meet increasingly ambitious EU recycling targets. Against this backdrop, the Advanced Recycling Conference (ARC) will bring together industry leaders, technology providers, researchers, innovators and policy-makers on 17–18 November 2026 in Cologne, Germany.

German textile industry and retailers form alliance to shape textile EPR system

Germany’s textile and fashion industry and retail sector have joined forces to establish the “Alliance for Textile Circularity” (Allianz für textile Kreisläufe). Initiated by the German Textile and Fashion Industry Association (Gesamtverband textil+mode) and the German Retail Federation (HDE), the alliance aims to contribute industry expertise to the development of Germany’s future Extended Producer Responsibility (EPR) system for textiles and footwear.

Cascale launches member-led process to shape 2030 strategy

Cascale has launched a member-led process to define the industry alliance’s strategic direction for the next decade. At the Cascale Annual Meeting 2026 in Athens, CEO Ying McGuire announced that members will contribute to an industry system map that will inform Cascale’s 10-year vision, its 2030 strategy and priorities for 2027. The new strategy is scheduled to be finalized in December.