Home / Knowledge / News / Apparel/Garments / Inditex reports 68% rise in first-half net profit

Inditex reports 68% rise in first-half net profit

24
Sep '10
The Inditex Group's announced first half result of fiscal 2010 from 1 February to 31 July.

Net sales in the first half of fiscal 2010 –from 1 February to 31 July - totalled 5,525 million euros, a year-on-year growth of 14%. In local currencies, revenue from store sales rose by 11%. Like-for-like sales grew 5%.

• Net sales increased by 14%
• Store sales in local currencies increased by 10% between 1 August and 20 September
• First-half net income totalled 628 million euros, a year-on-year increase of 68%
• The Group opened 173 new stores during the period, bringing the total number to 4,780 stores across 77 countries
• Inditex had 93,976 employees at the end of 1H2010, a year-on-year increase of 6,900

The company generated net income of 628 million euros, an increase of 68% on the first six months of 2009. Gross profit rose 22% to 3,279 million euros, leaving the gross margin at 59.4%.

The Group opened 173 stores in 37 different countries in the first half, bringing its worldwide total to 4,780 stores in 77 countries at 31 July 2010.

It is worth highlighting the company's entry into the Indian market where it opened three Zara stores in Delhi and Mumbai during the second quarter. In line with Inditex's international growth strategy, the expansion of the Asian store base during the first half was very noteworth. This has driven growth in the contribution of total store sales by Asia to 15%. The contribution by the other areas was: Europe, 45%; Spain, 28%; and the Americas, 12%.

At 31 July, 93,976 people worked at the Inditex Group, which translates into the creation of 6,900 new jobs during the last 12 months.

On 2 September Zara began to sell its products online in six European countries: France, Germany, Italy, Portugal, Spain and UK, with a satisfactory customers' reception. Zara plans to launch online selling in Austria, Ireland, the Netherlands, Belgium and Luxembourg during the second half of 2010, extending the platform to US, Canada, South Korea and Japan during FY11.

Start of Second Half 2010
Store sales in local currencies increased by 10% between 1 August and 20 September 2010.

The Inditex Group


Must ReadView All

Pic: Shutterstock

Textiles | On 20th Feb 2020

An Industry Goes Viral

When the novel coronavirus, now called COVID-19, was first detected...

Pic: Shutterstock

Textiles | On 20th Feb 2020

Rising global import of sacks and bags

Overall trade of sacks and bags (for packaging of goods) has been...

Pic: freemind-production / Shutterstock.com

Retail | On 20th Feb 2020

Authentic Brands announces acquisition of Forever 21

Authentic Brands Group (ABG), a global brand development, marketing,...

Interviews View All

Top executives, Association

Top executives
Association

'Support and Outreach' huge relief for MSMEs

Smita Murarka, Amanté

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Anvita Mehra, Confidential Couture

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Marcus Hardelauf,

Marcus Hardelauf

Germany-based Textechno is one of the leading manufacturers of testing...

Lukas Hartmann,

Lukas Hartmann

Intex Consulting GmbH is a completely integrated enterprise resource...

Ritu Ajbani & Neha Agarwal,

Ritu Ajbani & Neha Agarwal

Petit Royal, co-founded by entrepreneurs <b>Ritu Ajbani and Neha...

Michael Jaenecke, Messe Frankfurt

Michael Jaenecke
Messe Frankfurt

From May 14 to 17, international exhibitors will present the entire...

Justin Gutierrez, INDA

Justin Gutierrez
INDA

The Association of the Nonwoven Fabrics Industry (INDA) has created a new...

Robert Erichsen, Statex Produktions & Vertriebs GmbH

Robert Erichsen
Statex Produktions & Vertriebs GmbH

Statex Produktions &amp; Vertriebs Gmbh, founded in 1978 and headquartered ...

Vaanee Bhatia, Gritstones Clothing

Vaanee Bhatia
Gritstones Clothing

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

Hemant & Nandita, Hemant & Nandita

Hemant & Nandita
Hemant & Nandita

The designer duo of Hemant &amp; Nandita are known for being inspired by...

Bani Batra,

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

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