Sales increase at Inditex

Covering eight sales formats including Zara, Massimo Dutti, and Bershka, fashion distributor Inditex announced its net sales rose to a total of 2,338 million Euros in the first quarter of 2009. The net income of the company, which opened 95 new stores in 1Q, reached 184 million Euros. Inditex’ total number of stores now comes to 4,359 in 73 countries.

In comparison to the same period a year earlier, the net sales went up with 5%, and 8% in local currencies. Albeit the net income reached 184 million euros in the first quarter, it was 16% less than in the same period of 2008. Gross profit rose 4% to 1,331 million Euros, resulting in a gross margin of 56.9%.

With the opening of 95 new stores in 28 countries in the first quarter of 2009, Store sales in local currencies from 1 May to 7 June rose 9%. The Group maintains its plan for FY2009 net store openings of between 370 and 450 new stores.