Home / Knowledge / News / Apparel/Garments / Spanish apparel marketer Inditex's Q1FY16 net soars 28%
Spanish apparel marketer Inditex's Q1FY16 net soars 28%
11
Jun '15
Net profit at Spain based Inditex Group, the biggest global apparel marketer soared 28 per cent year on year in the first fiscal quarter ended April 30, 2015.

In the three months to April 30, 2015, an Inditex Group press release, said its net profit amounted to €521 million, 28 per cent more than in the first quarter of fiscal 2015.

Its first quarter of fiscal 2016 net revenues however moved albeit slower at 17 per cent over the first quarter of fiscal 2015 to reach €4.37 billion, while net sales in constant currencies grew 13 per cent.

“Sales were driven by a solid business performance with LFL sales growth in all geographical areas,” the apparel marketer which has the likes of fast fashion brand Zara in its portfolio said.

The Group added that it has generated 8,580 new jobs in the past twelve months, 1,671 of which are in Spain.

Recently, Inditex approved a profit-sharing plan under which employees will participate in Inditex's earnings growth in 2015-2016.

All employees of its stores, manufacturing, logistics operations, retail chains and subsidiaries around the world who have been employed for more than two years will be eligible to participate.

The Group will award these beneficiaries 10 per cent of the year-on-year growth in profit attributable to the parent company up to a cap of 2 per cent of total consolidated profit.

Furthermore, Inditex informed that it continues to invest in the Group's growth and international expansion through capital expenditure.

“The expansion of Zara Home’s distribution hub in Cabanillas, Spain is a particular highlight in the first quarter,” the marketer observed.

These new facilities include the most technologically advanced distribution equipment such as fully automated sorting equipment to dispatch products even more efficiently.

This important technology will also be introduced at other platforms such as the Bershka facility in Tordera.

At the end of the first quarter of fiscal 2016, the Group had 6,746 bricks-and-mortar stores in 88 markets, having opened 63 net new stores in 27 different markets during the period.

At Inditex’s Annual General Meeting scheduled for July 14, 2015, its board of directors will ask shareholders to approve the payment of a total dividend from 2014 profits of €0.52 per share.

Of the total proposed dividend, €0.26 has already paid out on May 4, 2015, while the balance would be paid on November 3, 2015.

The board of directors will also propose the appointment of José Luis Durán to the board for approval at the AGM. He will replace Nils Anderssen, who has announced his decision not to stand for re-election. (AR)

Fibre2fashion News Desk - India


Must ReadView All

Global economic upswing became broader & stronger: IMF

Textiles | On 19th Apr 2018

Global economic upswing became broader & stronger: IMF

The global economic upswing that began around mid-2016 has become...

Courtesy: ITMA

Textiles | On 19th Apr 2018

ITMA 2019 expanding space due to overwhelming response

Due to overwhelming response, the exhibition space has been increased ...

BIDA’s Europe trip to showcase a different Bangladesh

Apparel/Garments | On 19th Apr 2018

BIDA’s Europe trip to showcase a different Bangladesh

The Bangladesh Investment Development Authority (BIDA) is taking a...

Interviews View All

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Cindy McNaull
Cordura

We have broad range of options in durable fabrics

Sandip Bhojani, Manthan Patel

Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


April 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search