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Inditex net sales increase

By FashionUnited

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In the first half of 2009, Spanish retail distribution company Inditex increased its net sales with 9% in local currencies to 4,861 million Euros. The company generated net income of 375 million Euros, down 8% from the same period in 2008. Gross profit rose 5% to 2,690 million euros, leaving the gross margin at 55.3%.

The Group opened 166 stores in 35 different countries in the first half, bringing its worldwide total as of 31 July 2009 to 4,430 stores in 73 countries. Inditex maintained its growth in Asia, with China now home to more than 50 stores following openings in cities such as Qingdao or Changchun. Meanwhile, Pull and Bear and Bershka stores opened their doors for the first time in Beijing and Hong Kong. Thus, the growth of the Asian Region remains as one of the key priorities at the core of Inditex’s expansion strategy.

Zara will start online sales for the autumn/winter 2010 season. Initially the online sales will be launched in Spain, France, Germany, UK, Italy and Portugal, to be followed by the progressive rollout in all Zara markets. Inditex’s CEO and Deputy Chairman, Mr. Pablo Isla, has defined the launch as “an important strategic step, in line with the Inditex Group’s constant daily search to offer the best service to clients worldwide”.

Inditex is one of the worlds largest fashion distributors, with eight sales formats including Zara, Pull and Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, Zara Home.

Image: Inditex HQ

Inditex