Inditex Seals Strong Year with Robust Growth

Inditex, owner of fast-fashion giant Zara, reported its fourth-quarter sales ending January 31, closely aligning with analyst forecasts. The company saw a 10.5% increase in annual sales. However, the pace slowed at the start of its first quarter, with sales up just 4% compared to last year's growth.

Inditex, the powerhouse behind global fast-fashion brand Zara, announced its fourth-quarter sales results on Wednesday, matching analysts' predictions and marking another year of substantial growth for the company.

The company reported a 10.5% surge in annual sales, reaching 38.6 billion euros, which equates to approximately $42.07 billion. This increase was driven by a fourth-quarter sales figure of 11.2 billion euros.

Despite the impressive annual growth, Inditex experienced a slower start to the new fiscal year, with sales rising only 4% in currency-neutral terms from February 1 to March 10, compared to an 11% increase during the same period last year.

(With inputs from agencies.)