Inditex, the owner of fashion retailers Zara and Bershka, said sales over the last month and a half have been up 14% year-on-year and has reiterated its outlook for the rest of the financial year.
Winter and Autumn collections have been “very well received” by shoppers and the Spanish group says it “sees strong growth opportunities” moving into the second half of the financial year.
Looking at enhancing its customer experience, fashion proposition and involvement with sustainability, the listed firm believes these areas will help “take the business model to the next level and extend differentiation further”.
Launching a new range of design concepts across its clothing stores in the second half including improving Zara’s homeware collection and introducing new denim collections at Bershka, the group believes it will experience “increased sales productivity”.
Aiming to reach net zero emissions by 2040, the group said that it targets cutting emissions by 50% in the next seven years and will start using raw materials with low impact on the planet.
Having launched its own pre-loved online service calls for more sustainable fashion have been felt across the industry, with rivals H&M launching a second-hand ‘thrift’ shop in London’s Regent Street.
Gross profits in Inditex’s first half jumped by 14.1% to reach €9.8 billion.
Óscar García Maceiras, Inditex’s chief executive said in its interim results: “The ongoing commitment to creativity, quality and customer experience, as well as the determined progress in sustainability, drives a strategy that is taking our business to the next level.”