Spanish multinational clothing company, Inditex has delivered a strong operating performance in the first nine months of 2025 (9M 2025). Sales for the period rose 2.7 per cent to €28.2 billion (~$32.8 billion), or 6.2 per cent in constant currency, with both stores and online performing well. Gross profit increased 3.2 per cent to €16.8 billion, lifting gross margin to 59.7 per cent.
Operating expenses grew just 2.4 per cent, 29 basis points below sales growth. EBITDA reached €8.3 billion (~$9.6 billion), up 4.2 per cent, while EBIT rose 4.8 per cent to €5.9 billion. Net income grew 3.9 per cent to €4.6 billion (~$5.3 billion).
The Group said its fully integrated model, diversified footprint and agile sourcing approach remained key to execution. Inditex opened stores in 39 markets during the period, operating a total of 5,527 sites at the end of October. Inventory was 4.9 per cent higher year on year, which the company described as ‘high quality’.
In the third quarter (Q3) of 2025, momentum strengthened further. Sales advanced 4.9 per cent to €9.8 billion, or 8.4 per cent in constant currency. Gross profit increased 6.2 per cent to €6.1 billion, with gross margin expanding to 62.2 per cent, the group said in a financial release.
EBITDA rose 8.9 per cent to €3.2 billion, while EBIT climbed 11.2 per cent to €2.4 billion. Net income for the quarter increased 9 per cent to €1.8 billion. The Group ended the period with €11.3 billion in net cash.
Early fourth-quarter trading has been strong. Between November 1 and December 1, 2025, store and online sales in constant currency grew 10.6 per cent versus the same period in 2024.
Looking ahead, Inditex said its priority is to keep improving its fashion offer, strengthen customer experience and progress on sustainability. It highlighted the benefits of its flexible, proximity-based sourcing model and its diversified global presence across 214 markets. Gross margin for 2025 is expected to remain stable within a band of +/-50 basis points, while currency movements are forecast to have a -4 per cent impact on sales.
Investment plans remain substantial. Ordinary capital expenditure is estimated at €1.8 billion for the year, complemented by a two-year, €900-million-per-year logistics expansion programme for 2024–25. The Zaragoza II distribution centre is now operational, and Zara’s new 200,000m² building in Arteixo was inaugurated in October.
“Zara has launched in new locations for example in Las Vegas Forum Shops at Caesars Palace. This week, we will open a new store in, Charlotte North Carolina, as well as a Zara Man standalone store in Palazzo Verospi, Rome. Additionally, we have made important relocations and refurbishments in Osaka Shinsaibashi, Austin The Domain, Maastricht Grote Straat and Barcelona Diagonal. We continue introducing the new soft-tag technology in our stores with a significant improvement in customer experience. The new system is now fully operational in Zara and is being rolled out in Bershka and Pull&Bear,” the release added.
ALCHEMPro News Desk (HU)
Receive daily prices and market insights straight to your inbox. Subscribe to AlchemPro Weekly!
marketing@alchempro.com
