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Inditex sees strong sales & operation performance in H1

Sep '18
Courtesy: Inditex
Courtesy: Inditex
Inditex has witnessed strong sales and operation performance in the first half of fiscal 2018. The net sales rose 3 per cent in the first half to mark a new record for the period of €12.03 billion, underpinned by growth across all of its geographical markets. This was in spite of the strength of the euro, with sales growth in local currencies of 8 per cent.

Combined with solid operating performance, net profit of the Spanish company reached €1.4 billion, up 3 per cent from a year earlier (1H17: €1.37 billion).

"The strong first-half results are the result of a solid sales and operating performance, arising from the unique strength of the group’s integrated and sustainable business model," chairman and CEO of Inditex, Pablo Isla, said.

The reporting period was once again defined by investments in enhancing and upgrading stores, with the introduction of advanced technology as part of the group’s fully integrated store and online strategy. By the end of the period, the group had 7,422 stores in 96 markets with fully integrated online sales in 49 of those markets.

Framed by its commitment to sustainability and particularly biodiversity, the group’s various brands continued to add to the collections marketed under the Join Life label which promotes best practices in the choice of raw materials and production processes. The goal is to lift the volume of items sold under this label to 118 million units in 2018 (annual growth of 60%). To this end, during the first half, Zara, Massimo Dutti and Oysho continued to expand their collections under this sustainability label, while Pull&Bear, Zara Home and Uterqüe launched their first Join Life collections.

Inditex also continues to roll out its integrated stock management system. This system makes it possible to fulfil online customer orders with store inventory – helping to shorten delivery times and enhance customer service. By 2020, the group plans to sell all its brands online throughout the world as well as to complete its eco-efficient store plan. "These developments mean that by 2020 Inditex will be a fully integrated, fully eco-efficient and fully digital company," according to Isla. (RR)

Fibre2Fashion News Desk – India

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