;
Home / Knowledge / News / Apparel/Garments / Inditex Q1 sales up 2% to €5.7 billion
Inditex Q1 sales up 2% to €5.7 billion
13
Jun '18
Courtesy: Inditex
Courtesy: Inditex
Inditex has recorded net sales growth of 2 per cent in the first three months of fiscal 2018 to €5.7 billion, marking a new first quarter record. The period was marked by significant exchange rate movement with sales growth in local currencies of 7 per cent. The sales increased by 9 per cent in the local currencies between May 1 and June 11, 2018.

Growth was underpinned by solid business performance and same-store sales growth across all geographies. Gross margin improved by 68 basis points from the same quarter a year ago to 58.9 per cent. Net profit reached €668 million in first quarter of fiscal 2018, up from €654 million in the same period a year prior.

The company's revenue reached a new first-quarter record of €5.7 billion, during a period marked by significant exchange rate effects. The group launched online sales for Zara in Australia and New Zealand during the quarter. Retail space kept growing, while the company continued differentiating, optimising and upgrading its store portfolio.

During the first three months of fiscal 2018, the group’s brands opened new stores in 36 markets, while continuing with the group’s strategy of absorbing smaller-sized units and expanding and refurbishing others, closing the period with 7,448 stores. Refurbishments and investments are mainly connected to the introduction of the latest technologies related to the group’s integrated store and online model.

"The strength of the integrated store and online model, bolstered by continued innovation, is driving solid growth and notable job creation," said chairman and CEO, Pablo Isla. (RR)

Fibre2Fashion News Desk – India


Must ReadView All

British PM's Brexit divorce deal defeated in parliament

Textiles | On 16th Jan 2019

British PM's Brexit divorce deal defeated in parliament

British Prime Minister Theresa May's Brexit divorce deal was defeated ...

Garment industry in Laos continues to face challenges

Apparel/Garments | On 16th Jan 2019

Garment industry in Laos continues to face challenges

Apparel firms in Laos are facing several problems ranging from...

Courtesy: Indochino

Apparel/Garments | On 16th Jan 2019

Indochino to open 20 new showrooms in North America

Indochino, a leader in custom and made to measure apparel...

Interviews View All

Claudia Kersten, Global Organic Textile Standard

Claudia Kersten
Global Organic Textile Standard

‘GOTS is a very efficient supply chain management tool, especially for...

Headhonchos, Indian fashion industry

Headhonchos
Indian fashion industry

Cotton consumption will keep growing in the Indian fashion industry

Prabu Mohanram, Balavigna Weaving Mills Pvt Ltd

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

Will Qian,

Will Qian

Honghua Digital Technology Stock Co., Ltd. specialises in the R&D,...

Harsh Shah,

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

John Kelley,

John Kelley

Textile Events is one of the largest textile fair in the United Kingdom,...

Iago Castro Asensio, RCfil Distribuciones S.L.

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Silke Brand-Kirsch, Schlegel und Partner GmbH

Silke Brand-Kirsch
Schlegel und Partner GmbH

<div>Schlegel und Partner is the market research and consultancy company...

Pierre Wiertz, EDANA

Pierre Wiertz
EDANA

Pierre Wiertz talks about the vast world of sustainable nonwovens and...

Rajesh Pratap Singh, Rajesh Pratap Singh

Rajesh Pratap Singh
Rajesh Pratap Singh

<div>Ace fashion designer <b>Rajesh Pratap Singh</b> has used Tencel to...

Tony Ward, Tony Ward

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Adriano Goldschmied, AG Jeans

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

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


January 2019

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

news category


Related Categories:

Advanced Search