Zara owner posts record $6.4B profit for 2024
Inditex, the parent company of Zara, reported a 10.5% YoY increase in sales for the 2024 fiscal year at constant exchange rates. Net profit rose 8.93% YoY to 5.87 billion euros ($6.37 billion), achieving a record high but marking a slowdown from the double-digit growth seen in the past three years. By business line, Zara (including Zara Home) remained the company’s primary revenue driver, with sales rising 6.6% to 27.77 billion euros ($30.11 billion). Other brands also reported growth: Bershka increased 11.8% to 2.93 billion euros ($3.18 billion), Stradivarius grew 14.1% to 2.66 billion euros ($2.89 billion), Pull&Bear rose 4.6% to 2.46 billion euros ($2.67 billion), Massimo Dutti climbed 6.6% to 1.96 billion euros ($2.12 billion), and Oysho increased 11.8% to 831 million euros ($900 million).