Inditex reported Q1 2019 results for the period ended on 1 April 2019.
- Sales increased 5% to EUR5.93 billion as compared to EUR5.65 billion in Q1 2018.
- Gross profit increased 6% to EUR3.52 billion compared to EUR3.33 billion in Q1 2018. Gross margin stood at 59.5% versus 58.5%.
- Operating profit (EBIT) rose 15% to EUR980 million against EUR851 million in Q1 2018.
- Net profit increased 10% to EUR734 million compared to EUR668 million in the same period in the previous year.
- Store and online sales increased 9.5% in local currencies from 1 May until 7 June and from 1 February until 7 June the sales increased 6.5% in local currencies.
Developments during the period:
- Carlos Crespo will be appointed CEO at the AGM to lead digital transformation and sustainability initiatives.
- Online sales launched in nine markets: Brazil, Morocco, Egypt, Lebanon, Israel, Serbia, Indonesia, the United Arab Emirates and Saudi Arabia.
- Like-for-like (LFL) sales expected to increase 4-6%.
- Zara is planning to launch online sales this autumn in South Africa, Qatar, Kuwait, Bahrain, Oman, Jordan, Colombia, Philippines and Ukraine.