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.
Featured reports from just-style's research store this week include company briefings on Arcadia, H&M and Next, a look at the trends in world textile and clothing trade, and global and regional trend...
Fashion retail giant Inditex, owner of the Zara brand, recorded a 22% increase in net profit in fiscal 2012, boosted by a double-digit sales increase and nearly 500 new store openings....
Fashion retail business French Connection Group slid to an expected full-year loss in the financial year ended 31 January, thanks to an 8% decline in revenues....
The most read stories on just-style this week include a look at the challenges Burma faces in becoming a competitive sourcing destination, Under Armour filing a trademark infringement lawsuit against ...
- Why voters don’t want more global supply chains
- Global supply chain trends at Sourcing at MAGIC
- Denim and athleisure top picks for back-to-school
- What's 3D-printing doing for apparel and footwear?
- Labelling – The importance of the fine print
- Vietnam garment industry calls for strategy update
- H&M takes action over Myanmar child labour breach
- Myanmar textile association to lift garment makers
- US Q2 in brief - The Buckle, Stein Mart
- Nike and Apollo create supply chain partnership
- Too Many Standards
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Under Armour, Inc. (UA) - Financial and Strategic SWOT Analysis Review
- Central America strategic sourcing review - a focus on Guatemala, El Salvador and Honduras
- THE GAP, INC.: Retailing - Company Profile, SWOT & Financial Analysis