Zara launched online in Australia and New Zealand on 14 March

Zara launched online in Australia and New Zealand on 14 March

Spanish clothing giant Inditex booked increases in both earnings and revenues in its first-quarter, underpinned by what it says was a strong operating performance and global growth in both its online and store network.

The company, whose brands include Pull & Bear, Bershka and Massimo Dutti, today (13 June) said net income in the three months to 30 April totalled EUR668m (US$891.6m), up 2% from EUR654m a year earlier.

Net sales were also up 2%, reaching EUR5.7bn from EUR5.6bn in the prior year, while sales in local currencies grew 7%. Gross margin in the quarter expanded 68 basis points to 58.9% from 58.2% last year.

Meanwhile, Inditex continues to roll out its global, fully integrated store and online platform. The retailer, which today operates 7,448 stores, opened locations in 36 markets during the period.

In addition, Zara launched online in Australia and New Zealand on 14 March.

Looking ahead to the start of the second quarter, Inditex said store and online sales in local currencies increased by 9% from 1 May to 11 June.