Zara owner Inditex (BME:ITX) reported a 41 percent jump in online sales over the course of 2017, after a year of “solid growth”.
It was the first time the group had reported its online sales, which were a key driver of the group’s performance for the year, which saw net profits rise 7 percent to €3.37 billion.
Like-for-like sales, which excludes new store openings, rose 5 percent, with net sales up 9 percent. The group reported revenues of €25.34 billion for the full year.
Pablo Isla, Inditex’s CEO, saifd the group had seen “solid growth” throughout the year, with recent investment in technology and logistics leaving the company well placed for continued progress.
During the year the company spent €1.8 billion, spent largely on integrating the online and physical businesses.
Shares in Inditex, who also own Massimo Dutti, Bershka and Pull & Bear, are currently down 2.27 percent at 23.71 (1017GMT).
