Inditex's net sales reach €5,666 mn

13 Dec '06

3 min read

Inditex´s net sales rose 22 percent since the beginning of FY2006 as compared to the same period a year earlier, reaching €5,666 million.

In the same period net income came to €634 million, also 22 percent higher than in the first nine months of FY2005, which represents earnings per share of €1.02.

Gross profit grew 20 percent to €3,194million, reaching 56.4 percent on sales.

326 new stores were launched by 31st October 2006 since the beginning of the year, totalling 3,018 outlets in 64 countries.

The net openings took place in upwards of 40 countries, underscoring the number of stores launched in Europe, over 250, being especially relevant those occurred in such markets as Italy, France or Russia.

In the Asia-Pacific area, where the strategic expansion of Inditex has resulted in a growth of floor space two times higher than the global average of the Group, an aggregate number of 23 stores were launched since 1st February 2006, totaling 56 outlets as at 31st October.

In addition to the first two stores launched in Continental Chine in February and August in Shanghai, net openings took place in Japan, Singapore, Indonesia, Thailand and the Philippines.

With this regard, the expected CAPEX for the full FY2006 will be between €850 and €950 million, with an estimated number of openings of between 410 and 490. Additionally, this growth has allowed the creation of 11,739 new jobs over the last twelve months, 3,990 of them in Spain.

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