Inditex FY Net Profit Climbs 5.2%

PARIS — Inditex SA reported net profits rose 5.2 percent in its fiscal year ended Jan. 31 as Europe’s largest clothing retailer continued to expand its presence with physical stores and new online markets. The owner of the Zara retail chain posted net profits of 2.5 billion euros, or $3.3 billion. Net sales at the Arteixo, Spain-based fast-fashion giant rose 8.3 percent to 18.1 billion euros, or $23.8 billion. All dollar rates are calculated at average exchange for the period concerned. The company also reported that store sales in constant currencies were up 13 percent between Feb. 1 and March 14 of this year, suggesting sales growth will accelerate in 2015. RELATED CONTENT: WWD Earnings Tracker >> Over the course of the year, Inditex opened 343 stores in 54 markets, bringing its total network to 6,683. Total expenditures for the year stood at 1.4 billion euros, or $1.8 billion, including mostly costs of expansion. Online, South Korea and Mexico have been added to the firm’s portfolio of 27 e-commerce markets, with Taiwan, Hong Kong and Macao slated to start operations this year. “In view of the performance of the group over recent years, a special profit sharing plan has been approved under which employees will participate in Inditex’s

Follow WWD on Twitter or become a fan on Facebook.

Read More...



from WWD » Inditex FY Net Profit Climbs 5.2% http://ift.tt/1Eq0FMe

via IFTTT