Zara owner Inditex has posted strong growth in full year sales and profit after it benefited from increased footfall in its stores.

In 2022, sales rose by 17.5% year-on-year to €32.6 billion with uplifts in all key geographical areas.

Meanwhile pre-tax profit rose by 28% to €5.4 billion and EBITDA by 20% to €8.6 billion.

Store sales were particularly buoyant, growing by 23%, despite there being 10% fewer shops and a 6% reduction in commercial space compared to 2021. Online sales edged up 4% to €7.8 billion.

In addition to Zara, Inditex’s retail brands include Pull & Bear, Stradivarius, Massimo Dutti, Bershka and Oysho.