Home / Knowledge / News / Apparel/Garments / Net sales at Inditex Group soar 17% in H1FY16
Net sales at Inditex Group soar 17% in H1FY16
24
Sep '15
Net sales at the world's biggest apparel marketer and owner of fast fashion brand Zara, the Inditex Group soared 17 per cent year over year in the six months to July 31, 2015.

In a press release, Inditex said its revenue surged 17 per cent in the first half of fiscal 2016 to €9.42 billion, underpinned by growth across all its geographical markets.

Like-for-like sales grew much slower at 7 per cent, on top of the 4.5 per cent growth the company reported in the first half of fiscal 2015.

Net profit for the reporting period too drove up 26 per cent over the same period of the previous fiscal to €1.16 billion.

Inditex added that it continued to create employment at a healthy pace during the first six months of the fiscal and has generated more than 10,000 new jobs in the last 12 months.

The Group had 141,192 employees globally at the end of the first half of fiscal 2016 and of the new jobs, 2,532 were created at the headquarters and logistics platforms in Spain.

All of the Group's formats expanded their geographic reach, adding 94 new stores in the first half across 35 markets to bring the total Group store count to 6,777.

Zara Home opened new stores in central locations in two important capital cities: Berlin and Geneva, with the latter marking the home fashion brand's foray into the Swiss market.

Meanwhile, Oysho stepped up its presence on Barcelona's Paseo de Gràcia with a new three-storey flagship store.

Also during the second quarter, Zara completed store extensions and refurbishments to introduce the latest store image at stores in highly-strategic locations like Hamburg, London and Mexico City.

The company also refurbished existing Massimo Dutti flagship stores to introduce the new store image in cities such as Paris and Zurich.

The various formats also opened stores along high streets and in first-class shopping centres in Sydney, Mexico City, Bucharest, Marseilles, Moscow and Hong Kong.

The Group currently sells its products online in a total of 28 markets. In September, the online platform of Zara went live in Hong Kong, Macau and Taiwan.

While, Oysho, Massimo Dutti, Stradivarius and Pull&Bear all launched their online sales platforms in China.

The Company will pay a final ordinary and bonus dividend totalling €0.26 per share before tax on November 3, 2015, thereby completing the €0.52 per share dividend declared against 2014 earnings. (AR)

Fibre2Fashion News Desk – India


Must ReadView All

Pic: Shutterstock

Textiles | On 17th Feb 2020

Vietnam textile firms urged to source from Malaysia, India

Pham Xuan Hong, president of Ho Chi Minh City’s textile association,...

Pic: Shutterstock

Textiles | On 17th Feb 2020

Myanmar to initiate measures to improve trade strategies

Myanmar will take measures to raise overseas demand for indigenous...

Pic: PaCT

Apparel/Garments | On 17th Feb 2020

IFC portal to monitor resource usage in Bangla RMG sector

The International Finance Corporation (IFC) has developed PaCT...

Interviews View All

Textile industry, Head honchos

Textile industry
Head honchos

Relaxation in FDI norms will support growth of retail sector

Subhashini Srinivasan, The S Studio

Subhashini Srinivasan
The S Studio

Ethnicwear market will see an upward trend if uniqueness and quality are...

Sunil Kumar Sharma, Loknayak JPNSSSG Ltd

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Karan Behal,

Karan Behal

Karan Behal, founder and chief executive of top-selling brand...

N Nithyanandan,

N Nithyanandan

Incorporated in 1999, Purani Textiless Private Limited is one of the...

Sandip Bhojani, Manthan Patel,

Sandip Bhojani, Manthan Patel

Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....

Robert Brookins, Alexium International

Robert Brookins
Alexium International

Alexium International is a specialty chemical development company...

Giorgio Mantovani, Corman S.p.A

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Giulio Cesareo, Directa Plus SpA

Giulio Cesareo
Directa Plus SpA

Established in 2005, Direct Plus SpA, is one of the largest producers and...

Amiben Shroff, Shrujan

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Vaanee Bhatia, Gritstones Clothing

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Sailesh Singhania, Sailesh Singhania Label

Sailesh Singhania
Sailesh Singhania Label

The Sailesh Singhania label was created to promote handwoven sarees and...

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


February 2020

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


Advanced Search