The CEO of Inditex, Óscar García Maceiras, has highlighted the “acceleration” of store and online sales at the beginning of the third quarter, the “solid performance” of the group, with “satisfactory” sales in “a complex environment” and the “significant” growth opportunities.

“It is obvious that we are seeing a positive evolution throughout the year. We remain confident about the year ahead and, as always, we are focused on increasing the differentiation of the business model,” said the CEO of Inditex at a conference with analysts to present its results.

García Maceiras highlighted the “strong” start to the second half of this year and noted that the autumn/winter collections have been “very well received” by its customers. Thus, store and online sales at constant exchange rates between August 1 and September 7, 2025, have grown by 9% compared to the same period in 2024, reflecting, he said, an “acceleration” in sales.

Inditex recorded a net profit of 2,791 million euros during the first half of its fiscal year 2025–2026 (between February 1 and July 31), an increase of 0.8% compared to a year earlier, as reported Wednesday by the group, which again achieved new records with its results, although with more moderate growth.

Sales, meanwhile, grew by 1.6% compared to the first half of 2024, reaching € 18.357 billion, with a satisfactory evolution in both stores and online channels. Sales at constant exchange rates grew by 5.1%.

“We have achieved a solid performance in the first half of fiscal 2025, with satisfactory sales in a complex market environment and maintaining solid levels of profitability. The efficient execution of our teams demonstrates the strength of Inditex’s business model,” García Maceiras stressed.

“This business model continues to be driven by our unique fashion proposition and an increasingly optimized customer experience, our focus on sustainability and quality, and the commitment of our teams. These factors continue to enhance our competitive differentiation,” he added.

García Maceiras insisted that the group’s results highlight that the execution of the business model has also been “solid,” which is reflected in the “good performance” of the gross margin and “disciplined” cost control.

“Our diversified presence in 214 markets, coupled with relatively low penetration in most of them, reinforces our conviction that we have significant global growth opportunities ahead of us. This confidence is because we have a unique model,” he emphasized.

With a view to Inditex’s long-term growth potential, the company has planned investments in the current year that will expand its capabilities, generate efficiencies, and increase its competitive differentiation.

The company has stated that store optimization remains on track and expects this to drive further productivity improvements. It also anticipates annual gross space growth in the 2025–2026 period to be around 5%, accompanied by positive net space and “strong” online sales.

At current exchange rates, it anticipates a currency impact of approximately 4% negative on sales in 2025. In 2025, Inditex expects a stable gross margin (+/-50 basis points).

United States and United Kingdom, “very relevant” markets

“We continue to see good additional opportunities to expand our presence in new markets,” said Inditex’s CEO, who highlighted, among others, that the United States and the United Kingdom are “very relevant” markets for the group.

Regarding the United States, the company continues to see opportunities to execute its “selective growth” strategy, with initiatives that are “very relevant” for next year, including remodeling emblematic stores, such as the one on Fifth Avenue in New York, as well as new openings.

“We continue to explore new opportunities in the market for our different formats,” said García Maceiras, who also assured that the group will continue to be “very active” in the United Kingdom, where he sees “very good opportunities” to continue growing both with Zara and the other concepts in different locations.