Shares of Zara owner Inditex rose to an all-time high on Wednesday after the company announced its full year 2023 results.
Inditex on Wednesday announced its full-year 2023 results, saying sales and net income hit record-highs.
A total of 5,692 stores were operational at the end of the year, Inditex said, adding it plans to expand further in 2024 — including with Zara shops in Los Angeles and Las Vegas. The company also plans to open new distribution centers in 2024 and 2025, as part of a major logistics expansion plan, that will cost the company investments of 900 million euro in both years.
"Inditex's performance in 2023 has been excellent. Our teams have been able to take advantage of the opportunities to keep growing profitably. We are investing to drive future growth and continue to offer an attractive remuneration to shareholders," Inditex CEO Oscar García Maceiras said in a statement.
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