Inditex’s net sales up; opens 91 new stores during Q1
The Inditex Group generated net sales in the first quarter of 2012 (1 February to 30 April) of 3.4 billion euros, 15% higher year-on-year (14% in local currencies). Net income amounted to 432 million euros, 30% more than in the first quarter of 2011. Inditex opened 91 new stores during the quarter, bringing the total store base to 5,618 at 30 April 2012. The new stores were opened in 26 difference markets, illustrating the global growth potential of the Inditex Group’s retail concepts.
The new store openings notably included the global flagship Zara store located on the corner of New York’s Fifth Avenue and 52nd street. Meanwhile, in May Inditex opened its first stores in Ecuador, bringing the number of markets in which the Group has a presence to 85.
During the first quarter, Inditex redoubled its commitment to investing in Spain with the commencement of construction work on the expansion of the Group’s headquarters in Arteixo (Galicia). The new extension will add 70,000m2 to the existing 90,000m2 which house the Group’s shared corporate services and the sales, creative and design teams of Zara and Zara Home. The extension, which will entail an investment of 100 million euros, will generate around 400 new jobs.
The state-of-the-art logistics platform being built by the Group in Tordera (Catalonia) to accommodate Massimo Dutti’s operations will begin to operate in September. The Group will invest a total of 190 million euros in the Tordera expansion, generating around 500 jobs.
Zara plans to launch its online store in Mainland China in September. Currently customers can shop through www.zara.com in 16 European countries, the US and Japan.
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