Inditex nine-month sales up 11%
Zara owner Inditex has posted sales up 11% at €16.4bn in the first nine months of 2016 while net profit for the period was up 9% at €2.2bn.
The group, which includes the Zara, Massimo Dutti, Pull & Bear, Stradivarius and Bershka brands in its stable, says it has created more than 9,000 new jobs worldwide as a result of its growth, around one in five of which are in its home market of Spain.
"The company’s growth is driving noteworthy job and value creation in our various markets, most particularly in Spain, boosted by the simultaneous growth at the Group’s headquarters," said Inditex chairman and CEO Pablo Isla.
"This momentum is the result of sustained investment – logistic facilities and stores – as well as the ongoing development of its integrated offline-online store model," Isla added.
During the nine-month period the group opened 227 stores in 50 markets, five of which were new markets (New Zealand, Vietnam, Paraguay, Aruba and Nicaragua). As of 31 October 2016 its global footprint extended to 93 markets and its total global store count stood at 7,240. Its online platform now extends to 41 countries with Turkey being the latest roll-out.