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Apparel retailer Inditex Q1'FY14 net sales rise 11%

28 Jun '14

4 min read

In parallel, the Group's various formats continued to update their market propositions; specifically, Massimo Dutti, Bershka and Uterqüe presented their new store images during the quarter. Massimo Dutti and Uterqüe also opened stores in Terminal 4 of Adolfo Suárez-Barajas airport (Madrid, Spain). Meanwhile, Oysho continued its international expansion, introducing its new sports line at sporting events in cities such as Milan, Barcelona and Madrid.

As for the Group's online reach, Zara plans to launch its e-commerce platform in South Korea and Mexico in the month of September. These two new markets will join the 25 in which the Group is already selling online (21 European markets, the US, Canada, Japan and China). In parallel, Zara will widen its offer in China through the launch of an online store in the Tmall e-commerce platform in the 2014 Autumn/Winter season.

Start of 2Q14

Between 1 February and 8 June 2014, sales in local currencies increased by 11%. Inditex has scheduled its Annual General Meeting for 15 July. The Board of Directors will propose to shareholders a FY2013 total dividend of €2.42 per share, of which €1.21 was already paid out on 2 May 2014 with the remaining balance to be paid on 3 November 2014.

The Board will also propose a 5-for-1 stock split, i.e. shareholders will receive five shares for every share they own at the close of business on 25 July, 2014. The new shares will begin trading on 28 July, 2014.

Subject to the approval of the proposed stock split to the General Shareholders Meeting, the final dividend payable on 3 November 2014 would be €0.242 per share.

Inditex Group

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