Fashion distributors The Inditex Group announced the net sales of first nine months of 2005.
Net sales of the company in the first nine months of FY2005 were 20 percent higher than in the same period a year earlier, reaching 4,651.3 million euros.
Meanwhile, net income reached 520.5 million euros, 28 percent higher than the same period in FY 2004 that is EPS of 83.8 cents. Gross margin reached 2,652.8 million euros in this period, representing 57 percent on sales, versus 55.6 percent at the end of the 3Q in FY2004.
Since the beginning of the fiscal year, 323 new outlets were launched, the number of stores as at 31 October 2005 totalling 2,567 in 59 countries. As at 30 November, there were 2,643 stores in 60 countries.
The forecast of openings for the whole FY2005 remains between 400 and 450 new stores. Expected CAPEX for FY2005 is between 750 and 850 million euros. In these first nine months, the group has created 6,925 new jobs, for a total workforce of 53,971.
During the six weeks since the beginning of the 4Q FY2005 sales performance is according to Management expectations.
Spanish retailer Inditex is comprised of over one hundred companies associated with the business of textile design, manufacturing and distribution.
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