Zara owner Inditex has seen sales soar in 2022, rising 17.5% compared to 2021 to hit €32.6bn. Sales were positive in all key geographical areas, both in stores and online, says the company.
Across 2022, online sales also grew by more than the record levels seen in 2021 to reach €7.8bn.
Sales in Europe were particularly strong, with the group seeing a 47.5% uplift in trading in the region excluding the Group’s home market of Spain. Spanish sales rose 14.4%. Growth in the Americas matched that of Asia and RoW at around 20%.
Store sales grew 23%, reflecting incremental footfall and increasing store productivity. This higher level of store sales has been achieved with 10% fewer stores and 6% less commercial space than in 2021. The Group’s ongoing store optimisation and digitalisation programme continues to be key.
In 2022, Inditex opened stores in 33 markets. The group remained very active in store optimisation activities, with 201 openings, 186 refurbishments, which include 94 enlargements and 349 absorptions. At the end of FY2022 Inditex operated 5,815 stores.
Inditex ceased operations in 514 stores and online platforms in the Russian Federation on 5 March 2022. 82 stores and online operations in Ukraine remain closed since 24 February 2022.
The Group also says that it achieved its target of seeing 100% of the electricity used in its central services, logistics platforms and stores coming from renewable energy.
The Zara Pre-Owned platform – currently available in the UK only – also performed well and is set to be expanded to new markets, starting with France and Germany. Through this platform, Inditex says that will continue helping customers to extend the life cycle of Zara garments through donation, repair or resale.
Commenting on the results, Óscar García Maceiras, CEO, says: “The excellent results of 2022 show the strength of our business model and its ability to move towards the next level of development in which our fashion proposition, the experience of our customers, our commitment to sustainability and the talent of our teams will continue to be key.”