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ZARA owners’ income increased by 54% from February to April 2023 compared to the same period in 2022

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The Textile Group stresses that it has made “satisfactory” progress in both store and internet sales in all geographic regions and in all formats in which it exists.

Spanish fashion multinational Inditex Zara Pull&Bear posted a net profit of €1.168 billion ($1.25 billion) in the first quarter (February to April). 54% more than the same period in 2022, This is the best way to start exercising.

However, the company’s profit in the first quarter of 2022 was €760 million, which would have been €940 million without provisions for store closures in Russia and Ukraine.

According to a report released this Wednesday, Sales exceeded €7.6 billion ($8.132 billion), up 13% year-on-year.

The Textile Group stresses that it has made “satisfactory” progress in both store and internet sales in all geographic regions and in all formats in which it exists.

Indeed, sales at constant exchange rates increased by 15% and gross profit (ebitda) increased by 14% to €2,195 million ($2,348 million).

Inditex has 5,801 stores (down 622 stores as of April 30, 2022) in 213 markets across most of the globe.

Gross margin, which is the difference between selling price and cost of production, increased by 14%. Up to €4.603 billion ($4.925 million).

Operating expenses were up 13%, below sales growth, leases were up, but transaction volumes were down.

Source: Biobiochile

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