- Prachi Singh |
REPORT_ In the first nine months of FY2014 from February 1 to October 31, 2014, Inditex’s revenues increased 7 percent to 12.7 billion euros (15.8 billion dollars). In constant currency terms, sales growth was 10.5 percent, while like-for-like sales growth during the period was strong.
EBITDA and income before taxes were up 2 percent, while net profit amounted to 1.7 billion dollars (2.1 billion dollars), up 1 percent from a year earlier. During the fourth quarter, store and online sales increased by 14 percent in local currencies between November 1 and December 8, 2014.
Over the past year, Inditex created 8,520 new jobs, 1,500 of which were in Spain. The group continues to expand its global footprint, fully integrated store and online sales platform. In the first nine months of 2014, it opened a net 230 new stores, in 50 countries and expanded its online footprint. Following recent online launches in South Korea and Mexico during the past quarter, the group is now present in 27 markets.
New stores were opened in all geographic regions; strong space growth continued, helped by major openings across all of the group’s concepts. Over the nine months, net new openings hit 154 in Europe, 34 in the Americas and 70 in Asia and the rest of the world, bringing the global footprint to 6,570 stores across 88 markets.