Zara parent company boosted profit and sales
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Spanish clothes retailer Inditex, has reported its net profit for the first fiscal quarter of 2016 rose 6 per cent, after global sales lifted by 12 per cent.
Inditex said profit for February through April was 554 million euros ($A843.61 million), up from 521 million euros for the same period last year.
The company’s shares were up 2.7 per cent at 28.74 euros in Wednesday morning trading in Madrid.
The company said sales reached 4.88 billion euros, a 12 per cent increase on the same period in 2015.
Inditex says it opened 72 new stores in the period for a total of 7085 and added 11,900 jobs in the process. During the first quarter, the retailer expanded its reach to 90 markets, having opened inaugural stores in Aruba and Nicaragua. At the end of the first-quarter, the Group reported 7085 physical stores.
Founded in 1975 by Amancio Ortega, Inditex operates eight store brands including Massimo Dutti, Bershka and Oysho.
Questions & Answers
Q.What was Inditex's net profit for the first fiscal quarter of 2016?
What was Inditex's net profit for the first fiscal quarter of 2016?
Inditex reported a net profit of 554 million euros for the first fiscal quarter, covering February through April 2016. This was an increase from 521 million euros recorded during the same period in the previous year.
Q.How many new stores did Inditex open during the first quarter of 2016 and where?
How many new stores did Inditex open during the first quarter of 2016 and where?
Inditex opened 72 new stores during the first quarter of 2016, bringing its total to 7085 physical stores. The retailer expanded into new markets by opening inaugural stores in Aruba and Nicaragua.
Q.What was the total value of sales reported by Inditex for the first fiscal quarter of 2016?
What was the total value of sales reported by Inditex for the first fiscal quarter of 2016?
Inditex's sales reached 4.88 billion euros for the first fiscal quarter of 2016. This figure represents a 12 per cent increase compared to the sales reported for the same period in 2015.
Q.Which other store brands does Inditex operate besides Zara?
Which other store brands does Inditex operate besides Zara?
Inditex operates a total of eight store brands, including well-known names such as Massimo Dutti, Bershka, and Oysho. These brands contribute to the company's broad presence in the fashion retail market.
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