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Inditex's net sales up; opens 91 new stores during Q1
Jun '12

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. Zara took advantage of this inauguration to unveil its new image to the world.

Elsewhere, the Group’s various formats continued to make significant strides toward the development of their eco-store concept. For example, the Pull&Bear store opened in Rotterdam was awarded Platinum LEED certification, while Bershka’s new LED-only lighting scheme helped this chain’s Berlin store to similarly achieve Platinum LEED certification. 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.

Elsewhere, 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.

Elsewhere, the Board of Directors agreed yesterday to appoint José Arnau Sierra to the Board where he replaces Francisco Luzón López, to whom Inditex would like to convey its gratitude for his valuable contribution all these years.

The Inditex Group

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Courtesy: India ITME

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