A strong mix of brick-and-mortar sales and online shopping has helped textile retailer Inditex to do good business and jump back into profitability. Compared to the same period in the previous year, sales in the first half of the current financial year rose by almost half to a good 11.9 billion euros, the owner of the fashion chains Zara, Bershka and Massimo Dutti announced on Wednesday in Arteixo, Spain.
From February to July, adjusted operating earnings before interest, taxes, depreciation and amortization (Ebitda) were EUR 3.1 billion, more than twice as high as a year earlier. The bottom line is that Inditex earned almost 1.3 billion euros after a loss of 195 million euros in the previous year.
The positive development should continue in the coming months. The new autumn / winter collection was “very well” received by customers, it said. The start in the period up to the beginning of September is 22 percent above the same period of the previous year or 9 percent above the pre-crisis level. Almost all shops are currently open.