Press releases
Inditex’s sales rose by 12% in the first quarter of fiscal year 2008
* Net income rose by 10%, to 219 million euros
* From 1st February to 8th June, store sales in local currencies increased by 14%
* Net sales reach 2,218 million euros
* Inditex opened 145 new stores as at the end of the quarter; currently is present in 70 countries with 3,890 stores
Inditex provides relief for the population affected by the earthquake in Sichuan in the amount of 5 million dollars
Inditex, today has handed over to the Red Cross International Federation a water purifier unit and has also undertaken to distribute humanitarian relief material especially addressed to child population. Both initiatives, in the aggregate amount of five million dollars, are part of the emergency plan activated by Inditex to help the rebuilding process started in the Sichuan region after the disaster caused by the earthquake last 12 May.
Pull and Bear launches in Liverpool its first store in the United Kingdom
Pull and Bear has chosen Liverpool to start trading in the United Kingdom. As of today, Friday 30 May, the international fashion proposal for young people offered by this format is available in this Northwestern city.
Appointments at Inditex
Ramón Reñón, until now managing director of Expansion, has been appointed director general-adjunto al Consejero Delegado, reporting directly to Pablo Isla. Ramón Reñón joined Inditex in 1992, and has since headed the Group's Real Estate and Expansion divisions.
Zara opens its first stores in South Korea
Zara will open its first two stores in South Korea tomorrow, bringing to 69 the number of countries in which Inditex does business. The first Zara stores to open their doors in Korea are in the capital, Seoul, one of the most important cities in the Asia-Pacific region due both to the strength of its economy and the size of its population, which exceeds 10 million people. One of the stores is in Young Plaza, one of the highest-traffic department stores in Korea, which is owned by the Lotte Group, Inditex’s partner in Korea. The second new Zara store is in the Coex Mall, the main shopping centre in the city's financial district.
Inditex continues its international expansion with a 942 million euro investment
• The Group’s net profit rose by 25% to 1,250 million euros
• Consolidated sales increased to 9,435 million euros, i.e. 15% more than the previous year, 17% in local currencies and constant perimeter. Like-for-like sales grew by 5%
• With 560 new stores during the financial year –80% of them outside Spain-, Inditex achieved a total of 3,691 stores in 68 countries, four more than the year before (Croatia, Colombia, Guatemala and Oman)
• International sales represented 62.5%, compared to 60.4% in 2006
• The gross sales margin reached 56.7%, 48 basic points higher than in the financial year 2006, and the EBIT grew by 22%
• The group created 10,277 jobs in 2007, resulting in a total workforce of 79,517 at the end of the year
• The Board of Directors will submit a proposal to the General Meeting of Shareholders to distribute 652 million euros as dividend for the year -1.05 euros per share-, which represents 25% more than the previous year
• During the beginning of 1H2008 sales performance is according to Management expectations. Store sales in local currencies have increased by 17% from 1 Feb. to 23 Mar. 2008
Inditex and ‘Médicos Sin Fronteras’ have signed an agreement to put in place humanitarian projects
Inditex and ‘Médicos Sin Fronteras’ (MSF), Spanish section of Médecins Sans Frontières, today subscribed a framework agreement for collaboration in the matter of social action and relief commitments whereby both organizations lay the foundations to promote development of health-related projects. The first joint initiative to be put in place will be a program of medical care in Somalia (Africa) to be managed by MSF Spain and towards which Inditex has agreed to contribute €1.5 million.
80% of Inditex new openings for FY2007 were in international markets
* The retail area of the Group in FY2007 amounted to approximately
two million square meters through 3,691 stores in 68 countries
* Inditex opened 560 new stores, 441 outside Spain
* Asia-Pacific (32%), Eastern Europe (61%) and Russia (65%) were the regions with the largest increase in retail area
* Inditex presence has experienced strong growth in the main European markets, especially in Italy and France
* Inditex concepts opened stores in 50 countries. Four new markets were entered: Croatia, Colombia, Guatemala and Oman
* Store openings in four new markets -Korea, Ukraine, Egypt and Montenegro- are expected over 2008
Mr. Pablo Isla announces the acquisition of Inditex shares for a total amount of €503,000
Mr. Pablo Isla, First Deputy Chairman and CEO of Inditex, has communicated to the CNMV, Spanish stock market regulator, the acquisition today of 14,700 shares of the company for a total amount of €503,056.