Inditex closes 2024 with single-digit growth, reaching 'historic highs' in sales and profits

Madrid – Spanish fashion multinational Inditex Group, parent company of chains such as Zara, Bershka and Massimo Dutti, presented its financial statements for its latest fiscal year of 2024 this morning. The year, which ended on January 31, 2025, saw the company, chaired by Marta Ortega, close with new “historic highs”, albeit with growth slowing to a single-digit rate.

Based on information gathered from the company's accounts, Inditex reported that in 2024 the group generated sales totalling 38.63 billion euros. This figure represents an increase of 7.46 percent compared to the 35.94 billion euros invoiced in the 2023 financial year, and leaves the company growing by 36.57 percent on the 28.28 billion euros invoiced during 2019, the last year to close before the effects of the coronavirus pandemic. This positive growth sees a new historic high in sales at the close of 2024, but at a lower, single-digit rate, compared to the 10.37 percent growth experienced by the group's sales last year.

Meanwhile, in terms of profits, the Spanish fashion multinational closed the year with a net profit of 5.87 billion euros. This amount represents an increase of 8.93 percent compared to the 5.39 billion euros of net profit recorded in 2023, as well as 52.45 percent compared to the 3.85 billion euros of 2019. This performance in terms of profitability is also positive and at “historic highs”, as well as being lower and at a single-digit rate, compared to the 30 percent increase in net profit that the company experienced in 2023.

“The excellent sales and profit figures show the strength of Inditex Group's profitable growth,” said chief executive officer, Óscar García Maceiras, in statements provided by the Spanish fashion multinational. This growth, he added, is “based on the quality of the commercial offering of all our formats, efficiency in all operations and constant innovation with which our teams drive a business model that continues to show its ambition and strength as we celebrate 50 years since the opening of our first store”.

With Zara, physical retail and Europe as the largest sources of income

Analysing in greater detail the performance experienced by Inditex throughout 2024, by business lines, Zara — which includes the operations of both Zara and Zara Home and Lefties — remained the company's main revenue generator, with total net sales of 27.77 billion euros (6.6 percent compared to the previous year). Followed in this relationship by Bershka, with sales of 2.93 billion euros (11.8 percent); Stradivarius, with 2.66 billion euros (14.1 percent); Pull&Bear, with 2.46 billion euros in sales (4.6 percent); Massimo Dutti, with 1.96 billion euros (6.6 percent); and finally Oysho, with annual sales reaching 831 million euros (11.8 percent).

In terms of performance by channel, sales in physical stores remained the group's main source of income, experiencing growth of 5.9 percent, to 28.46 billion euros. This was during a year in which the company closed with 5,563 stores, between openings and closures, in any case with a net loss of -129 points of sale compared to the 5,692 it had at the close of 2023, but nevertheless increasing its retail space by 2 percent. This distribution of sales by channel is completed with an online channel where turnover grew by 12 percent, to 10.16 billion euros.

Finally, by market, the company is strengthening its position in Europe, with European markets, excluding Spain, increasing from 48.7 to 50.6 percent of all the company's sales. Inditex Group is also gaining even more weight in Spain, a market that is increasing from 14.8 to 15.1 percent of all its sales; however, the company is reducing the weight in its balance sheets of its operations in America, a region that is decreasing from 19.6 to 18.6 percent of all its physical and online sales, and in Asia and other markets, which are reducing their weight within the group's accounts from 16.9 to 15.7 percent of all its sales.

Investments of 2.7 billion euros for 2025

Looking ahead to this new year of 2025, the company remains committed to total investments for this year of 2.7 billion euros. This includes the 900 million euros of extraordinary investments that the company announced last year for 2025 as part of its strategic logistics expansion plan for 2024-2025; as well as the 1.8 billion euros in ordinary investments that Inditex has announced it will undertake this year, mainly aimed at optimising its retail network, its technological integration and improving its online commerce platforms. Adding to this, as a forecast, that, as a result in part of these investments, the increase in gross annual space in the period 2025-2026 will be close to 5 percent.

Finally, as a last update, the company has reported that sales between February 1 and March 10 increased by 4 percent. This percentage rose to 7 percent, at constant exchange rates, during the last week of that same period.