Inditex to Pay Up to €1,500 Bonus to Around 28,000 Store Employees

Inditex will pay a bonus of up to €1,500 to around 28,000 store employees throughout February after reaching an agreement with CCOO, UGT, and CIG. Specifically, the sales assistants will receive this bonus depending on the achievement of sales targets in the stores where they work during the last fiscal year, according to the unions.

In this way, four ranges have been set, so the multinational textile workers will receive €530 from a 50% achievement of sales targets; €1,060 from an 80% achievement; €1,200 from 100%, and up to a maximum of €1,500 for stores with 110% achievement.

According to UGT, a total of 162 stores have reached the maximum achievement target, while 448 have achieved 100%, and 514 have surpassed 80%.

Inditex recorded a record net profit of €5.381 billion in its fiscal year 2023-2024 (from February 1, 2023, to January 31, 2024), representing an increase of 30.3% compared to the previous year.

The fashion firm's sales also hit a record, reaching €35.947 billion, 10.4% more than in 2022, with a 14.1% increase at constant exchange rates.

Store sales increased by 7.9% in 2023 due to growing commercial traffic and increasing store productivity. According to the company, this "strong" growth was achieved with 2% more commercial space and 2% fewer stores than in 2022. In 2023, gross space increased by 4.5%, while online sales also grew "satisfactorily," by 16%, reaching €9.064 billion.

Store and online sales in Spain accounted for 14.8% of the group's total, while Europe excluding Spain accounted for 48.7%, America for 19.6%, and Asia and the Rest of the World for 16.9%.