Inditex international benefits from expansion
Clothing company Inditex international, which owns Bershka and Zara, reports a strong performance for its latest nine months.
Continuing to roll out its global fully integrated store and online platform, the Spanish group opened outlets in 52 markets during the period. Its store count reached 7504 in 94 markets at the end of October.
It says like-for-like sales growth remains strong, while global online sales launches are on track. It launched online sales for Zara in India in October.
Net sales for the nine months reached €17.96 billion (US$21.2 billion), up 10 per cent.
Gross profit reached €10.3 billion, 9 per cent higher, while gross margin reached 57.4 per cent and EBIT was up 6 per cent to €2.99 billion. Net income was also up 6 per cent to reach €2.3 billion.
During the nine months, Inditex opened 212 stores including 60 for Zara, 30 for Stradivarius and 13 for Pull & Bear.