Inditex international sales drive profits

Zara owner Inditex Group reported profits of 4,561 million euros in the first six months of the 2008 financial year, 14% more than in the same period last year. Net profit grew by 7% as sales, with international store sales representing 65.2% of the total.

All over the world, the eight Inditex concepts opened 249 stores between 1st February and 31st July this year. The Group had at that time a total of 3,940 stores in 70 countries and plans to open store number 4,000 on 21st September, in the district of Ginza, Tokyo.

The Group has continued to increase its international presence, with special attention to the Asian and Eastern European markets, where a third of the new openings have taken place. As a consequence, international sales now represent 65.2% of the total, in comparison with 62.2% in the same period of the previous financial year.

With regard to distribution by geographical area, Western Europe accentuated its position as the region with the greatest contribution to Group operations, representing 37.5% of the total sales, very much ahead of Spain.

Inditex said it received good reception of its Autumn-Winter collections. The six weeks since the beginning of the second half show similar growth patterns to those of the first half.