Inditex Shares Surge 7% Amid Zara’s Soaring Fast Fashion Strategy
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June 7, 2023 : Inditex, the Spanish parent company of popular fast fashion brand Zara, experienced a strong performance in the quarter ending April, leading to a 15% increase in global net revenue to €7.6 billion ($8.1 billion) on a like-for-like basis. Operating income also surged by 43% to €1.5 billion ($1.6 billion). The robust sales growth outpaced rising operating costs, maintaining healthy margins, and indicating a stable full-year gross margin of around 60%. As a result, investor confidence soared, leading to a sharp 7% rise in Inditex’s stock.