Overview
- Sales rose 8.4% at constant currency in Q3 to €9.8 billion, exceeding analyst expectations.
- Early Q4 momentum strengthened, with November revenue up 10.6% year over year at constant currency.
- Gross profit increased 6.2% to €6.1 billion and gross margin expanded 79 basis points to 62.2%, while operating expenses grew 3%.
- Inditex ended Q3 with €11.3 billion in cash and plans about €1.8 billion of 2024–2025 streamlining capex, including an operational Zaragoza distribution hub and a 2.1 million‑square‑foot Arteixo design and operations hub opened in October.
- The group is closing smaller stores and prioritizing larger flagships with roughly 5% gross space growth targeted through 2026 as Zara tilts upmarket to defend share against Shein and Primark.