Press releases
Inditex's net sales rose to 2,338 million euros in the first quarter of 2009
* Net sales increased by 8% in local currencies.
* Store sales in local currencies from 1 May to 7 June rose 9%.
* Net income reached 184 million euros.
* Inditex opened 95 new stores in the first quarter bringing its total number of stores to 4,359 in 73 countries.
Ignacio Fernández, new Chief Financial Officer of the Inditex Group
Ignacio Fernández, until now the Head of Inditex’s Tax Department, has been appointed the Group's new Chief Financial Officer.
As CFO, Ignacio will oversee the departments of Administration, Planning and Management Control, Risk Management, Financial Management and Taxes. According to Deputy Chairman Mr. Pablo Isla, “the goal of this structure is to generate the highest possible number of synergies and to ensure the integrated management of the Financial Area”.
Inditex’s 2008 net sales reached 10,407 million euros
Net sales in local currencies and constant perimeter increased by 12%
• Inditex outperformed the sector in a challenging retailing environment
• The Inditex Group continued to create jobs. The retailer had a workforce of 89,112 employees at the end of the year, after creating more than 9,000 new jobs in 2008
• In FY2008 sales growth was positive in all geographical areas
• Net income increased to 1,253 million euros
• Inditex ended the year with 4,264 stores, 573 more than in 2007. Of its total retail surface area, 85% was outside of Spain. The company debuted in new markets with the opening of its first stores in Ukraine, South Korea, Montenegro, Honduras and Egypt. International sales accounted for 66% of total sales, compared with 62.5% in 2007.
• Gross profit reached 5,914 million euros, 11% higher than in FY2007, resulting in a Gross margin of 56.8%
• The Board of Directors will propose to the General Shareholders Meeting a dividend of 654 million euros, 1.05 euros per share
• February monthly store sales in local currencies excluding calendar effects have increased by 9%. The Spring-Summer season is influenced by the performance over the Easter period due to its significant sales volumes.
Inditex and Trent of the Tata Group agree to open stores in India beginning 2010
Inditex and the Tata Group today signed an agreement to form a joint venture to develop Zara stores in India. Inditex will control 51% of the venture, while Trent Limited, a Tata Group company, will control the remaining 49%. The partnership plans to open its first stores starting in 2010 in New Delhi, Mumbai and other major cities of India.