Zara owner Inditex climbs to all-time high as 2023 sales jump 10%


Shopper carrying two large shopping bags from the clothing retailer Zara on Oxford Street on 5th February 2024 in London, United Kingdom. Oxford Street is a major retail centre in the West End of the capital and is Europes busiest shopping street with around half a million daily visitors to its approximately 300 shops, the majority of which are fashion and high street clothing stores. (photo by Mike Kemp/In Pictures via Getty Images)
Mike Kemp | In Pictures | Getty Images

Shares of Zara owner Inditex hit record highs on Wednesday according to LSEG data, climbing over 6% after the company announced its 2023 full-year results.

As of 10:51 a.m. London time, shares were 5.86% higher at 43.49 euros ($47.54).

Sales increased by 10.4% to 35.9 billion euros for the year, the company said, signaling this was a record high. Net income also reached a fresh high, after soaring by 30.3% from 2022 to reach 5.4 billion euros last year.

The Spanish clothing company owns a range of vastly popular brands including household name Zara, as well as Pull & Bear, Bershka, Stradivarius, premium retailer Massimo Dutti and sports and the athleisure-focused Oysho.

This breaking news item is being updated.

Products You May Like

Articles You May Like

Here are the ‘micro pockets’ of deflation in May 2024 — in one chart
Robotics startup cofounded by Synapse CEO is raising funds with exaggerated claims about GM ties
Nadella, Narayen among tech CEOs investing in cricket’s American dream
Maintenance and repair costs can be an unwelcome surprise for first-time homeowners. Here are some ways to avoid bill shock
Biden economic advisor unveils ‘key principles’ for tax policy plan ahead of expiring Trump tax cuts

Leave a Reply

Your email address will not be published. Required fields are marked *