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Inditex revenues rise 8 percent in FY14

By Prachi Singh

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Business |REPORT

Inditex Group sales revenue rose by 8 percent in fiscal 2014 to 18.12 billion euros (19.19 billion dollars). Net sales in local currencies increased by 11 percent in FY14. Same-store sales growth was 5 percent, implying like-for-like store sales growth in the last five years of 23 percent. Net profit came to 2.5 billion euros (2.6 billion dollars), growth of 5 percent from 2013, while EBITDA rose 5 percent to 4.1 billion euros (4.3 billion dollars).

Inditex ended 2014 with 343 more stores that at year-end 2013 for a total network of 6,683 establishments in 88 markets, having entered the Albanian market during the year. In total it opened new establishments in 54 markets worldwide. Some of the most noteworthy openings included flagship Zara stores in Zurich, Miami, Madrid, Krakow, Hong Kong and Shanghai to bring its total number of stores in China to over 500 across 60 cities. The group's other chains also opened high-profile stores such as the Pull&Bear stores in Milan and Amsterdam; the Massimo Dutti stores in Vienna and Palma de Mallorca; the Bershka store in Turin; the Uterqüe store in Madrid’s airport; the Stradivarius store in Osaka; the new image Uterqüe store in Barcelona’s airport; the Oysho store in Barcelona; and the Zara Home flagship in London. In 2015, Zara Home has opened its debut stores in Australia.

New stores planned for this year include prominent openings in London, Barcelona and a number of openings in various US cities, including three in New York. Also in 2014, the group rolled out online stores for the chains with a presence in South Korea and Mexico and is planning to add Taiwan, Hong Kong and Macau to the e-commerce platform in 2015.

Inditex’s Board of Directors will ask the company’s shareholders to approve a 0.52 euro (0.55 dollars) per share dividend, marking year-on-year growth of 7.5 percent, at its annual general meeting in July. Store sales in constant currency terms rose by 13 percent between February 1 and March 14, 2015.

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