Inditex, the parent company of Zara, reported record sales for the fiscal year 2023, with revenues reaching €36 billion (£31 billion), a 10.4% increase from the previous year.
Net income for Spain’s largest company grew 30.3% to €5.38 billion, demonstrating the “effectiveness of our integrated store and online strategy”, according to the group.
Inditex announced a 28% increase in its full-year dividend to €1.54 per share.
The group noted a positive start to 2024, with sales growing 11% in constant currency from 1 February to 11 March.
The company continues to focus on expanding its global presence and enhancing its supply chain efficiency, including a significant investment in logistics over 2024-2025.
No mention was made of the pressure Inditex is facing from shareholders to publicly disclose the full details of its supply chain.
According to a Reuters report published earlier this week, investors are demanding greater transparency to “help us determine their supply chain resilience”.
Unlike European rivals H&M and Primark, the Zara owner does not currently publish information about individual factories and manufacturers.
Shares surged over 7% in the European trading session.