Inditex (ITX) today reported its results for the first nine months of the fiscal year (9M2023), covering the period from February to October: Net sales rose 11.1% year-on-year (+14.9% at constant exchange rates) in 9M2023 to €25,609 million. ITX highlighted the satisfactory evolution of its online shop revenue, which was positive in all geographies and in all formats.
Gross margin rebounded at a faster pace than sales, 12.3% year-on-year to €15,203 million. In terms of sales, gross margin stood at 59.4% compared to 58.7% in 9M2022. The company’s net operating profit (EBIT) increased 24.3% year-on-year between February and October to €5,192 million and attributable net profit closed October at €4,102 million, a 32.5% year-on-year improvement. It also noted that its net cash increased 15% over 9M2022 to EUR 11.48 billion.
