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Inditex FY’13 sales mount 5% & net income up just 1%

March 22, 2014 (Spain)

Inditex's net sales increased by 5% in FY13 (1 February 2013 - 31 January 2014) to €16.7 billion. Sales in constant currency terms grew by 8% and like-for-like sales grew by 3% during the same period, on top of the 6% achieved in FY12. Net income amounted to €2.4 billion, an increase of 1% from a year earlier.
 
Highlights: 
-In constant currency terms, sales increased by 8% in FY13; like-for-like sales grew by 3% over the same period, on top of the 6% achieved in FY12.
-Net income totalled €2.4 billion, an increase of 1% from a year earlier.
Inditex created 8,000 new jobs over the last 12 months lifting the Group's global headcount to 128,313 as of 31 January 2014.
-The Group invested €1.2 billion over the course of the year refurbishing and expanding its stores, head offices and logistics platforms.
-Inditex has continued to expand and modernise its decision-making  and logistics centres in Spain.
-Inditex opened a net 331 stores over the past 12 months across 61 markets globally, bringing its total store count to 6,340 as of 31 January 2014.
-Online sales: After the launch of Zara.com in South Korea and Mexico later this year, the Group will reach 27 online markets in 2014.
-So far Inditex' eco-efficient standards have been implemented in more than 2,200 stores globally.
-The Board of Directors will ask the company's shareholders to approve a €2.42 per share dividend, marking year-on-year growth of 10%, at the upcoming Annual General Meeting.
-Store sales in local currencies increased by 12% between 1 February and 15 March 2014.
 
The Group created 8,000 new jobs worldwide during FY13 bringing the total headcount to 128,313.
 
The Group's capital expenditure amounted to €1.24 billion during FY13 going mostly to new store openings, as well as the refurbishment and enlargement of existing stores.
 
At the same time, Inditex continued to expand its decision-making centres and logistics capacity in Spain, updating technology at the logistics facilities and expanding the Group headquarters. Strong investment continued through 2013 across the Group's distribution centres in Arteixo, Meco and Zaragoza. 
 
The latter's distribution centre recently began operating an automated hanging garment storage and retrieval system which is best in class due to its technical features and size. A new distribution centre in Cabanillas (Guadalajara), meanwhile, is expected to begin operations in the coming months. The 70,000-sqm extension of the Group headquarters in Arteixo is also now complete and mostly benefits the Zara and Zara Home sales divisions.
 
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