Inditex SA registers robust growth in 2007

31 Mar '08

3 min read

Inditex Group reports Full Year 2007 Results:

• Consolidated sales increased to 9,435 million euros, i.e. 15% more than the previous year, 17% in local currencies and constant perimeter. Like-for-like sales grew by 5%
• With 560 new stores during the financial year –80% of them outside Spain-, Inditex achieved a total of 3,691 stores in 68 countries, four more than the year before (Croatia, Colombia, Guatemala and Oman)
• International sales represented 62.5%, compared to 60.4% in 2006
• The gross sales margin reached 56.7%, 48 basic points higher than in the financial year 2006, and the EBIT grew by 22%
• The group created 10,277 jobs in 2007, resulting in a total workforce of 79,517 at the end of the year
• The Board of Directors will submit a proposal to the General Meeting of Shareholders to distribute 652 million euros as dividend for the year -1.05 euros per share-, which represents 25% more than the previous year
• During the beginning of 1H2008 sales performance is according to Management expectations. Store sales in local currencies have increased by 17% from 1 Feb. to 23 Mar. 2008

Inditex increased its net profit in FY 2007 (from 1st February 2007 to 31st January 2008) by 25%, reaching 1,250 million euros. Sales reached 9,435 million euros, 15% increase compared to the previous year, 17% in local currencies and constant perimeter. The increase in sales was due to both the very good performance of the LFL sales, growing by 5%in the FY, and the new selling area, with 560 new stores opened.

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