Inditex Rises as Global Expansion Continues
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Clothing company Inditex international, which owns Bershka and Zara, reports a strong performance for its latest nine months.
Continuing to roll out its global fully integrated store and online platform, the Spanish group opened outlets in 52 markets during the period. Its store count reached 7504 in 94 markets at the end of October.
It says like-for-like sales growth remains strong, while global online sales launches are on track. It launched online sales for Zara in India in October.
Net sales for the nine months reached €17.96 billion (US$21.2 billion), up 10 per cent.
Gross profit reached €10.3 billion, 9 per cent higher, while gross margin reached 57.4 per cent and EBIT was up 6 per cent to €2.99 billion. Net income was also up 6 per cent to reach €2.3 billion.
During the nine months, Inditex opened 212 stores including 60 for Zara, 30 for Stradivarius and 13 for Pull & Bear.
Questions & Answers
Q.How many new stores did Inditex open in total during this nine-month period?
How many new stores did Inditex open in total during this nine-month period?
Inditex opened 212 new stores over the nine months. These included 60 for Zara, 30 for Stradivarius, and 13 for Pull & Bear, as part of its global expansion strategy.
Q.What were Inditex's net sales and gross profit for the nine months reported?
What were Inditex's net sales and gross profit for the nine months reported?
Net sales reached €17.96 billion (US$21.2 billion), which is a 10 per cent increase. Gross profit was €10.3 billion, representing a 9 per cent rise.
Q.In which new market did Zara launch online sales during this period?
In which new market did Zara launch online sales during this period?
Zara launched online sales in India during October. This contributes to Inditex's ongoing strategy of rolling out its global fully integrated store and online platform across various markets.