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Inditex H1 sales rise by 11 percent in local currencies

By FashionUnited

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REPORT_ The Inditex Group’s stores and online sales in local currencies rose by 11 percent in

the first half of fiscal 2014 – between February 1 and July 31. Taking into account currency fluctuations, net sales rose 6 percent to 8,085 million euros (10,472.5 million dollars), while net profit was 928 million euros (1,202 million dollars). In the past twelve months, Inditex created more than 8,000 new jobs worldwide, 1,200 of which in Spain. Company’s like-for-like sales growth stood at 4.5 percent.

The Group opened stores in 40 different markets during the first half, bringing its worldwide network to 6,460 stores in 88 markets. Zara recently launched its online shopping platform in Mexico; with remaining Inditex brands to follow soon. Zara will also launch online in South Korea next week, with online store on China’s Tmall. Stores and online sales in constant currencies increased by 10 percent between August 1 and September 12, 2014. During the period, all of Inditex’s fashion concepts opened flagship stores.

Zara continued to roll-out its new stores in Hong Kong’s Queen’s Road, Madrid’s Calle Serrano, Zurich’s Bahnhofstrasse, Krakow’s Rynek and Miami’s Lincoln Road. Major new Pull&Bear stores were opened in Jakarta, Marseille, Istanbul, Venice and Paris, with flagship stores such as on Kalverstraat in Amsterdam and Corso Vittorio Emanuele in Milan. Massimo Dutti also continued to update its image, opening stores in cities such as Beijing, Toronto, Budapest, Palma de Mallorca, Madrid and Amsterdam. Zara Home, meanwhile, opened stores in cities such as London, Athens, Tokyo and Rio de Janeiro in Brazil.

Stradivarius and Bershka’s openings were located in Nagoya, Saint Petersburg, Istanbul, Marseille and Jakarta, among other cities. Meanwhile, Stradivarius opened its first UK store in August. At the end of the first half, the Group was operating online stores in 25 markets and Mexico, which was added on September 3. In addition to 21 European markets, the Group sells online in China, Japan, the US, Canada and Mexico.

The company will pay a final ordinary dividend and a bonus dividend totaling 0.242 euros (0.31 dollars) per share before tax on 3 November 2014, bringing the total dividend paid from 2013 profits to 0.484 euros (0.63 dollars) per share.

Inditex