**Inditex Beats H1 Expectations as its Midas Touch Continues, AW23 Starts Well**
**Madrid.** Spanish retail giant Inditex has reported a surge in first-half profits, surpassing market expectations, as its stable of iconic brands, including Zara, Pull&Bear and Massimo Dutti, continue to resonate with consumers.
The group, the world’s largest clothing retailer, said net profit rose 41% to 1.8 billion euros ($1.86 billion) in the six months to July 31, ahead of a consensus forecast of 1.66 billion euros in a Refinitiv poll.
Inditex said sales jumped 24.5% to 14.8 billion euros, also ahead of expectations.
The results underscore the resilience of Inditex’s business model, which is built on fast-fashion, with new designs hitting stores twice a week, and a vast network of stores in prime locations.
The group said its gross margin rose to 59.6% from 57.6%, helped by a favorable product mix and price increases.
**Autumn/Winter 23 off to a Strong Start**
Inditex also said trading in the first few weeks of its new autumn/winter (AW23) season had started well, with sales up 11% in local currencies.
The group said it is confident in the future, despite the uncertain economic outlook.
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