Inditex reports 7.2% sales growth, plans Nanjing flagship for Zara
Inditex, the parent company of Zara, reported a 7.2% YoY rise in sales to 18.1 billion euros ($19.4 billion) for the first half of the year, with a 10.2% increase at constant exchange rates. Gross profit grew 7.5% to 10.5 billion euros ($11.3 billion), and EBITDA increased by 8.1% to 5 billion euros ($5.3 billion). Both physical stores and e-commerce saw strong performance, with all brands showing positive sales growth. Inditex opened stores in 34 regions, reaching 5,667 locations by the end of the period. Zara has been closing some stores in China while expanding flagship stores, with the next Asia-Pacific flagship set to open in Nanjing, covering over 3,000 sqm.