Spain : Inditex Group 9M sales expand 11%

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Inditex Group 9M sales expand 11%

15
Dec '16

Courtesy: Inditex

In the nine months ended October 31, 2016, net revenue at the world’s biggest apparel marketer Inditex Group, expanded 11 per cent over the same period of the previous fiscal. Driven primarily by solid same store sales growth, net sales in constant currency terms, however, surged 15 per cent year over year at the Spain based garment marketer.

Net profit in the first nine months of fiscal 2017 rose slower at 9 per cent over a fiscal ago period at €2.2 billion.

According to Inditex, which has brands like fast fashion brand Zara and Pull&Bear, in its portfolio, this growth, coupled with the group's investments, has created 9,245 new jobs across the world in the last 12 months, of which 1,705 were created in Spain.

"The company's growth is driving noteworthy job and value creation in our various markets, most particularly in Spain, boosted by the simultaneous growth at our headquarters,” Inditex chairman Pablo Isla said. “This momentum is the result of sustained investment in logistic facilities and stores, as well as the ongoing development of integrated offline-online store model.”

Inditex has 7,240 stores in 93 markets and an online presence in 41 markets, having recently launched its online sales platform in Turkey. (AR)

Fibre2Fashion News Desk – India

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