Inditex, which includes stores such as Zara, Bershka, Massimo Dutti, Stradivarius and others, reported an 80% increase in quarterly profits thanks to higher sales. writes about him BoF.
“First quarter net income reached 760 million euros, up 80% from the first quarter of 2021,” Inditex said. At the same time, sales increased by 36% to €6.7 billion in the first quarter. The company managed to minimize costs by increasing clothing prices at the beginning of the year.
The reopening of stores in the UK, Europe and the US following the lifting of Covid restrictions helped Inditex recoup some of its revenue from the Russian market. In March, the company suspended the operations of 502 stores. Russia was Inditex’s second largest market in terms of number of stores, achieving a 5% increase in sales between February 1 and March 13, 2022.
Formerly socialbites.ca reportedfashion house Hermes presented a porcelain collection at the Salone del Mobile.