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Inditex: Results below expectations

The Spanish group published Wednesday its financial results for the past year. The world’s number 1 ready-to-wear brand name Zara, Massimo Dutti, Pull & Bear, Bershka, Stradivarius, Oysho and Zara Home and Uterqüe posted sales of 26.15 billion euros, up 3 % and a profit of 3.44 billion euros (+2%). These results are slightly below analysts’ expectations.

Inditex has however made a breakthrough on online sales. These totaled 3.2 billion euros, marking a growth of 27%. On March 20, Zara is expected to launch online sales in Brazil, where the brand has 57 stores that will be fully integrated after the launch. The brand also plans to launch its integrated platform with the launch of online sales in the spring in other countries, including Morocco, the United Arab Emirates, Egypt and South Africa.

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