Earnings

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

Products You May Like

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

‘Wicked’ tallies $19 million in previews, as ‘Gladiator II’ team-up heads for $200 million opening weekend
Hyundai reveals all-electric Ioniq 9 three-row SUV
The Tax Stakes for 2025
The 2025-26 FAFSA is open ahead of schedule — here’s why it’s important to file for college aid early
TJ Maxx parent says holiday shopping is off to a ‘strong start,’ but its guidance tells another story

Leave a Reply

Your email address will not be published.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