The online sales of Inditex grew “satisfactorily” during 2024, reaching €10.16 billion. This represents 12% more than in the previous fiscal year and presents a positive outlook for the eCommerce business of the Galician textile giant: currently, the online channel already generates 26.3% of Inditex’s total sales.
These are some of the main conclusions from the presentation of Inditex’s annual results, in which the company explains that it continues to demonstrate “a strong operational performance, based on the creativity of its teams and the successful execution of the integrated store and online business model.”
The group’s total sales (both physical and online) increased by 7.5%, reaching $42,09 billion USD, with a constant currency growth of 10.5%. The net profit increased by 9%, amounting to $6.39 billion USD. The group’s gross margin reached $24.35 billion USD, 7.6% higher than 2023, representing 57.8% of sales.
All the group’s brands reported increases in their net sales:
In geographical terms, Europe (excluding Spain) represented 50.6% of the Group’s total sales, followed by America with 18.6%, Asia and the Rest of the World with 15.7%, and Spain with 15.1%.
In the purely online realm, Inditex has explained that “the connection with customers remains very strong.” The Group’s active apps have reached 218 million users. Meanwhile, online visits in fiscal 2024 have grown by 10.0%, reaching 8,100 million. Finally, Inditex now has 257 million followers on social media.
Despite this growth, the results have not been well-received by investors, and the Group’s shares fell by more than 7% shortly after being announced. Among the possible reasons for this behavior is the slowdown in growth highlighted by the company itself so far in 2025. From February 1 to March 10, 2025, store and online sales increased by only 4% compared to the same period in 2024.
The fact is that the growth figures for 2024 already represented a slowdown compared to Inditex’s 2023 results, when the group’s total sales had increased by 10.4% year-on-year, nearly three percentage points more than in 2024. In the case of online sales, growth also slowed from 16% to the aforementioned 12%.
In any case, the most striking figure is regarding the group’s net profit. In 2023 it increased by 30.3% year-on-year, reaching $5,919.1 million USD, while in 2024 it grew much less, at 9%. A slowdown that has certainly not gone unnoticed by investors.
Looking to the future, Inditex’s statement explains that it will continue with its logistics expansion plan for 2024 and 2025. This two-year extraordinary investment program focused on business expansion allocates $990 million USD to increase logistics capacity in each of the years 2024 and 2025. This plan includes the new Zaragoza II distribution center for Zara, which will begin operations in the summer of 2025.
Oscar García Maceiras, the CEO of the company, explained that the results “demonstrate the strength of the Inditex Group’s profitable growth, based on the quality of the commercial offer of all our formats, efficiency in all operations, and the constant innovation with which our teams drive a business model that continues to show its ambition and strength as we celebrate 50 years since the opening of our first store.”
Image: Inditex
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