SPAIN: Inditex H1 net profit up 32% to EUR944m
- H1 sales up 17% to EUR7.2bn
- Like-for-like sales up 7%
- Q3 sales to date up 17%
Fashion retail giant Inditex has posted revenues of over EUR7bn (US$9.1bn) in the first half of the fiscal year, increasing its net profit by 32%.
In the six months to 31 July, the owner of the Zara and Massimo Dutti brands opened 166 stores in 39 markets, bringing its global total of outlets to 5,693 across 85 markets.
The company added that third quarter sales to date – covering the period between 1 August and 17 September – had risen by 17% in constant currency terms.
CEO Pablo Isla highlighted recent investments in Spain, which he said would underpin Inditex’s continued global growth.
Totalling EUR450m and creating an estimated 1,400 new jobs, these investments include an extension of the Inditex headquarters in Arteixo, the building of a new Massimo Dutti logistics centre in Tordera, and the acquisition of a 300,000sq m site in Guadalajara aimed at housing a new international logistics centre.
Inditex added that it had begun online sales in China on 5 September, while Zara Home and Massimo Dutti would launch online sales in the US during October.
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