Inditex Group sales rise on new stores
Zara parent Inditex Group sales rose by 12 per cent in its latest trading year, to January 31, reaching €23.3 billion.
Growth was achieved in every geographic region where the group is present, and includes contributions from debut stores in Vietnam and New Zealand.
Same-store sales rose by 10 per cent, up from 8.5 per cent the previous year, with positive same-store sales growth in all geographies and across all brands.
Net profit was €3.2 billion, up 10 per cent year-on-year, while earnings before interest and tax grew 8 per cent to €5.1 billion.
Chairman and CEO Pablo described the result as positive against a backdrop of strong prior-year performance.
Inditex opened 279 stores, net of closures, in 56 markets, across all its brands, ending the year with 7292 stores in 93 countries, a large proportion of the new ones in Asia, including its first Zara in Vietnam, in Ho Chi Minh City. Other Zara stores opened in China, Thailand, Indonesia and Japan and it refurbished it flagship in the Shinjuku district in Tokyo, one of Japan’s most important shopping districts, which reopened to the public in November.
A flagship Pull&Bear store opened in Windsor House in Hong Kong and new stores were opened by Massimo Dutti in India and by Oysho in Indonesia. Bershka refurbished its flagship on Nanjing Road East in Shanghai and Zara Home opened a global flagship on Garosu de Seoul in South Korea.
Since the financial year ended, it has opened online stores in Malaysia and Singapore, taking its online platform to 43 markets.