1. News
March 16, 2022

Inditex reports 35.8% year-on-year revenue increase for FY21

The company's store and online sales between 1 February and 13 March increased by 33% from a year earlier.

Spanish multinational clothing company Inditex has reported that its revenue for the fiscal year 2021 (FY21) increased by 35.8% to €27.7bn ($30.5bn).

Revenue from the company’s online sales was €7.5bn, a growth of 14% year-on-year.

Online sales represented 25.5% of Inditex’s total group sales in FY21 and this is expected to increase to 30% of the company’s total sales in 2024.

The company’s net profit for the year, which ended on 31 January, increased by 193% to €3.2bn.

During the year, Inditex opened 226 stores across 40 markets and its brands recorded 146 million active mobile apps.

A total of 6.2 billion people visited its online platforms over the 12-month period.

Inditex CEO Óscar García Maceiras said: “The leadership demonstrated by the company on the digital transformation front in recent years places us in an unrivalled position to offer an exceptional level of engagement with our quality and sustainable fashion”.

Inditex started the current fiscal year ‘strongly’, with its store and online sales up by 33% between 1 February and 13 March compared with the same period of FY21.

The company ended the year with 165,042 employees, up from 144,116 a year earlier, and a total of 6,477 stores worldwide.

Inditex plans to invest €80m this year to increase the capacity of its Plataforma Europa facility in Zaragoza, Spain, by 20%.

The facility distributes clothing from Zara, an apparel brand owned by the company, worldwide.

Earlier this month, Inditex temporarily closed all 502 of its stores in Russia, as well as its online operations in the country, amid Russia’s invasion of Ukraine.

Sales in these two countries represented around 5% points of the company’s sales growth between 1 February and 13 March this year.

Last June, Inditex reported that its sales had increased by 50% to €4.9bn in the first quarter of FY21.