×
144
Fashion Jobs
PUMA
Manager- Returns And Spf Operations
Permanent · Bengaluru
TECHNOVALUE SOLUTIONS PVT. LTD
Senior Sales Engineer / Area Sales Manager
Permanent · Baddi
TOUCH MOBILES
Wanted Area Sales Manager - Touch Mobiles
Permanent · Khammam
OAKBRIDGE PUBLISHING PVT LTD
Area Sales Manager
Permanent · Pune
AVANTOR
sr. Account Manager- Lab Products
Permanent · Kolkata
EXTRAMARKS EDUCATION
Area Sales Manager- B2B
Permanent · Hyderabad
ERA UNIVERSITY (ERA EDUCATIONAL TRUST)
Production Manager- Lucknow
Permanent · Lucknow
RENOVATE BIOLOGICALS PVT LTD
Area Sales Manager
Permanent · Hyderabad
PEOPLE ALLIANCE WORKFORCE PRIVATE LIMITED
sr. Area Sales Manager / Territory Sales Manager - Fmcg Personal Care
Permanent · Purulia
MOTILAL OSWAL FINANCIAL SERVICES
Opening For Territory Manager B2B Sales - Mumbai
Permanent · Navi Mumbai
NAGA LIMITED
Manager - Production
Permanent · Dindigul
JIO
jc Home Lead - Coimbatore & Tiruppur - Sales Manager
Permanent · Tiruppur
AVANTOR
Area Sales Manager || Patna/Ranchi
Permanent · Ranchi
BDO INDIA LLP
Cnc Manager Production Manager Minimum 14 Yrs to 18 Yrs
Permanent · Chennai
KENT RO SYSTEMS
Corporate Sales Manager
Permanent · Chennai
AS
Opening For Production Manager in Leading Sweets Mfg Company
Permanent · Thane
SRL DIAGNOSTICS
Territory Development Manager
Permanent · Prayagraj
KISHOR EXPORTS
Qam - Quality Assurance Manager For Garment Exports Company
Permanent · Ranchi
JAYPEE BROTHERS MEDICAL PUBLISHERS PVT LTD.
Area Sales Manager
Permanent · Prayagraj
HDB FINANCIAL SERVICES
Sales Manager - Alternate Channel
Permanent · Salem
SOSYO HAJOORI BEVERAGES PRIVATE LIMITED
Production / Plant Manager
Permanent · Ahmedabad
JIO
Territory Sales Manager - Warangal & Hannumakonda
Permanent · Hanamkonda
Published
Dec 15, 2021
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Inditex recovery picks up pace in Q3, and Q4 starts strongly

Published
Dec 15, 2021

Fashion retail giant Inditex delivered its nine-month and Q3 results report on Wednesday and it showed its recovery continuing to gain momentum. It also said its “strategic transformation towards a fully integrated digital and sustainable business model” is accelerating.


Zara - Photo: Paolo Roversi



The company reported that net income and pre-tax profit both reached historic highs in Q3 (although it didn’t break out detailed monetary figures for the quarter), with a strong comparison against the pre-pandemic period in 2019. And sales growth in constant currency in the three months to the end of October continued to speed up with a 21% rise year-on-year and a 10% increase versus 2019.

Store sales have been steadily improving all year and in Q3, they exceeded 2019 levels despite the firm having 11% fewer stores. The AW21 collections on sales during the quarter have been “very well received by our customers”. 

Importantly as well, the group said store and online sales combined (in constant currency) in Q4 between 1 November and 10 December have increased as much as 33% against the year ago period. And they’ve maintained that 10% increase against 2019 that was seen in Q3. 

Looking at the headline figures for the nine months as a whole, the company said that total net sales on a reported basis in the latest period reached €19.3 billion, 37% higher than a year ago, or 39% higher on a constant currency basis. That was below the €19.8 billion reported in 2019, but that's hardly surprising given the widespread (and temporary) enforced store closures during this year. 

But online sales continued to grow strongly with impressive two-year comparisons. They saw a constant currency increase of 28% on the year and a massive 124% compared to two years ago. As a result, the company expects online sales to reach more than 25% of its total for this financial year.


Zara - Photo: Paolo Roversi



Gross profit for the nine months was 40% higher year-on-year at €11.4 billion and the gross profit margin rose 101 bps to 59%. It also said that its nine-month EBITDA rose 63% to €5.4 billion, while EBIT was up a huge 248% at €3.3 billion. Pre-tax profit rose 277% to €3.2 billion and net income was up 273% at €2.5 billion. Net income two years ago had been €2.7 billion, so the company still has some catching up to do to get back to that level, although as seen above, its sales progress made during Q3 and Q4 so far suggests that it's well on its way.

Inditex added that at current exchange rates, the currency impact on sales in the second half is expected to be around +0.5% versus H2 2020 and -5.5% versus 2019.

And it said the migration to the Inditex Open Platform (IOP) is close to 97% complete and as of today, all its stores are open. Sales are “returning to normal levels and online sales continue to grow”.

Copyright © 2022 FashionNetwork.com All rights reserved.