The company's gross profit rose by 7.3 per cent to €4.9 billion, with the gross margin improving to 60.6 per cent, up 13 basis points compared to Q1 FY23, Inditex said in a press release.
Operating expenses increased by 6.4 per cent, which is below the sales growth rate. This company reported an 8 per cent rise in EBITDA, reaching €2.4 billion.
The company's EBIT saw a substantial increase of 10.3 per cent, amounting to €1.6 billion. Similarly, profit before tax (PBT) rose by 11.1 per cent to €1.7 billion. Net income also showed a strong increase of 10.8 per cent, totalling €1.3 billion for the quarter. Store and online sales in constant currency between May 1 and June 3, 2024, increased by 12 per cent compared to the same period in 2023.
ALCHEMPro News Desk (DP)
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