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Net profit up @ Inditex, plans China expansion
23 Mar '11
4 min read
Sales by geographic area. Europe accounted for the largest share of Group sales, 45%. A highlight was a significant increase in sales in Asia, which in 2010 accounted for 15% of total sales, vs. 12% the previous year.
Online sales: Other concepts to launch Internet shops. Zara's online store went live in September 2010 and is now available to e-shoppers in 16 European countries. Zara is set to expand Internet sales to the United States and Japan during the fall/winter 2011 season. The remaining Inditex concepts – Pull&Bear, Massimo Dutti, Bershka, Stradivarius, Oysho and Uterqüe -- will begin online sales during the fall/winter 2011 campaign. Zara Home has offered e-shopping since October 2007.
Dividend. The Inditex Board of Directors will propose to the General Shareholders Meeting a dividend of 1.60 euros per share, an increase of 33% on the previous year. The dividend will be distributed as follows: an interim dividend of 0.80 euros per share on 2 May 2011, followed by a final and bonus dividend of 0.80 per share to be paid on 2 November 2011.
Outlook for 2011. Inditex plans to expand its store network by a range of between 460 and 500 new establishments. Highlights of new market entries planned for this year include Australia and South Africa, in addition to the e-store launches in the US and Japan.
Start of FY2011. Store sales in local currencies rose by 10% between 1 February 2011 and 14 March 2011. Results for the spring/summer season are influenced by performance during Easter Week, due to the significant sales volumes generated at this time of year.
Online sales: Other concepts to launch Internet shops. Zara's online store went live in September 2010 and is now available to e-shoppers in 16 European countries. Zara is set to expand Internet sales to the United States and Japan during the fall/winter 2011 season. The remaining Inditex concepts – Pull&Bear, Massimo Dutti, Bershka, Stradivarius, Oysho and Uterqüe -- will begin online sales during the fall/winter 2011 campaign. Zara Home has offered e-shopping since October 2007.
Dividend. The Inditex Board of Directors will propose to the General Shareholders Meeting a dividend of 1.60 euros per share, an increase of 33% on the previous year. The dividend will be distributed as follows: an interim dividend of 0.80 euros per share on 2 May 2011, followed by a final and bonus dividend of 0.80 per share to be paid on 2 November 2011.
Outlook for 2011. Inditex plans to expand its store network by a range of between 460 and 500 new establishments. Highlights of new market entries planned for this year include Australia and South Africa, in addition to the e-store launches in the US and Japan.
Start of FY2011. Store sales in local currencies rose by 10% between 1 February 2011 and 14 March 2011. Results for the spring/summer season are influenced by performance during Easter Week, due to the significant sales volumes generated at this time of year.
Inditex Group
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