Inditex Q2 Sales Rise 9.1%, Momentum Carries into Fall Season


PARIS – Zara parent company Inditex reported revenues rose 9.1 percent to 11 billion euros in the three months ending July 30, even as the Spanish fast-fashion behemoth faced difficult consumer and macroeconomic headwinds.

It marked an acceleration from the first quarter of the year, when sales grew 5.8 percent, and reflected continued momentum across its integrated store and online model.

“These excellent results highlight the extraordinary capabilities of our teams,” chief executive officer Óscar García Maceiras said in a statement Wednesday. “In a highly complex global environment, they have succeeded in delivering every day to our customers all around the world the products and fashion experience that they demand. Ambition, flexibility and innovation are key differentiating factors that reinforce Inditex’s long-term growth potential.”

RBC Capital Markets analyst Richard Chamberlain said the results were “very reassuring.

“Inditex has executed well in recent years, benefiting from its strong design/buy set up and quick response business model. In recent years it has become more integrated between stores and online and has made good use of RFID to maximize full-price sales through efficient in-store inventory management, and most recently for more frictionless checkout,” he said.

That momentum has carried into the start of the third quarter.

Heading into the fall season, sales again rose 9 percent in constant currencies between Aug. 1 and Sept. 7, with Inditex saying its collections have been “very well received.” The performance in the first five weeks of the third quarter is notable given the extreme heat across Europe during the summer, which has complicated the traditional shift into fall clothes.

The early third-quarter momentum gives Inditex a strong start to the second half, although currency remains a headwind and the comparison becomes tougher. Currency effects are expected to shave one percent off sales for the full year.

Inditex plans to invest around 2.3 billion euros in ordinary capital expenditure this year, targeting capacity, efficiency and further differentiation from rivals. It will also spend nearly 200 million euros on upgrading corporate facilities, including offices and other infrastructure.

It will continue with its refurbishment and expansion plans by growing gross space around 5 percent in 2026.

The group is continuing to invest in its store network alongside its online operations. Zara has expanded into new locations, including Los Cabos in Mexico, while enlarging, relocating or refurbishing flagship stores in London’s Bond Street, Seoul’s Gangnam district and Ostend, Belgium.

Bershka is also stepping up its international expansion. The brand opened its first U.S. store in August at Aventura Mall in Miami, with another Miami-area location planned. It also opened its second Brazilian store in August, at Rio Barra, following its March debut in Morumbi, São Paulo.



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