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Zara owner Inditex has started the year at “full throttle”, its chief executive Oscar Garcia Maceiras told Expansion newspaper in an interview released on Tuesday, adding that he is optimistic about the year.
“The fiscal 2023 started with a good performance, the company is going at full throttle, all the markets are working adequately and we see with optimism the evolution of the year,” Garcia Maceiras was quoted in the newspaper interview.
Inditex, the world’s largest fashion retailer, is due to release financial results for the February-April period on June 7.
Under the helm of Garcia Maceiras, who took over as CEO in late 2021 as Marta Ortega, the daughter of Inditex’s founder Amancio, became chairwoman, the company’s business recovered and surpassed pre-pandemic levels faster than its main competitors.
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By Inti Landauro and Corina Pons, Editor Louise Heavens
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Asia was an outlier for Zara owner Inditex last year, the only region where profits fell as China faced Covid-19 lockdowns, while profit ballooned in the Americas, the fashion retailer’s annual report showed on Thursday.
