Inditex Reports First Half Gains with 1.6% Sales Growth, Marginal Profit Boost

Inditex maintains the trend of containment that has been advanced in previous periods. The Galician fashion retail group ended the first six months of 2025 with a 1.6% increase in sales and a 0.8% rise in net income. This performance is in line with that of the first quarter of the financial year, with the lowest quarterly growth since the pandemic.

As Inditex has informed the Spanish Securities and Exchange Commission (Comisión Nacional del Mercado de Valores, Cnmv), sales in the first half (period ended July 31) reached 18,357 million euros, compared to 18,065 million euros in the same period of fiscal year 2024.

“We have achieved a solid performance in this first half of fiscal 2025, with satisfactory sales in a complex market environment and maintaining solid levels of profitability,“ said Óscar García Maceiras, the group’s CEO.

Once again, the evolution of exchange rates has had an impact on the performance of Zara’s owner. Thus, sales at constant exchange rates rose 5.1% in the first half of the year. The group has pointed out that it has had a “satisfactory” evolution both in store and online.

Inditex posted a net income of 2,791 million euros, an increase of 0.8%.

The group’s gross operating profit (ebitda), meanwhile, reached 5,114 million euros, an increase of 1.5% compared to the first half of 2024. The company’s ebitda rose by 0.9% to 3,572 million euros.

The company posted net income of €2,791 million, up 0.8%, a performance unchanged from the first quarter. The company’s gross margin was 10,703 million euros, equivalent to a sales ratio of 58.3%, the same percentage as in the first half of 2024.

The group closed the first half of the year with 5,528 stores (compared to 5,667 twelve months earlier), having opened in 35 markets. Massimo Dutti is the only chain in the group to reduce the number of stores. By markets, Asia and America continue to lose weight in the overall business.

At the start of the third quarter, with the arrival of the autumn-winter collections, Inditex reported a 9% year-on-year increase in sales at constant exchange rates. For the year as a whole, the company expects a split impact of approximately 4% of sales.