{"id":161665,"date":"2019-06-12T09:22:54","date_gmt":"2019-06-12T09:22:54","guid":{"rendered":"https:\/\/www.theindustry.fashion\/zara-owner-rings-up-new-sales-record-thanks-to-online-push\/"},"modified":"2021-08-12T14:01:34","modified_gmt":"2021-08-12T14:01:34","slug":"zara-owner-rings-up-new-sales-record-thanks-to-online-push","status":"publish","type":"post","link":"https:\/\/www.theindustry.fashion\/zara-owner-rings-up-new-sales-record-thanks-to-online-push\/","title":{"rendered":"Zara owner rings up new sales record thanks to online push"},"content":{"rendered":"<p>The owner of fashion giant Zara, has notched up <strong>a 10% hike in first-quarter profits<\/strong> after record sales thanks to a further global push online.<\/p>\n<p><!--more--><\/p>\n<p><strong>Inditex, the world\u2019s largest clothing retailer, posted net profits of \u20ac734<\/strong><strong>m<\/strong>\u00a0(\u00a3653m) for the three months to 30 April after net sales lifted 5% to an all-time high of \u20ac5.93bn euros (\u00a35.3bn).<\/p>\n<p>The group, which also owns brands including Massimo Dutti and Pull &amp; Bear, said <strong>poor weather in the second half of the quarter hit sales<\/strong> but added trading quickly recovered.<\/p>\n<p>It also confirmed <strong>a boost for the group\u2019s 92,000 employees, who shared out a \u20ac32m (\u00a328.5m) pot in April<\/strong> as part of its previously announced profit-sharing plan.<\/p>\n<p>Chairman and chief executive Pablo Isla said the first-quarter performance underscored the \u201c<strong>strong momentum in the digital transformation of the integrated store and online sales<\/strong> platform and in sustainability as a key pillar of the company\u2019s strategy\u201d.<\/p>\n<p>The company has announced<strong> the launch of nine new online markets in the first quarter,<\/strong> including Brazil, Morocco and Saudi Arabia.<\/p>\n<p>It also aims to expand in the autumn across South Africa, Qatar, Kuwait, Bahrain, Oman, Jordan, Colombia, the Philippines and Ukraine.<\/p>\n<p>Inditex added<strong> sales had continued rising in its second quarter so far<\/strong>, with total turnover across stores and websites up 9.5% between 1 May and 7 June, bringing growth for the year so far to 6.5% in local currencies.<\/p>\n<p>It is expecting <strong>like-for-like sales growth to pick up pace in the current financial year<\/strong>, to between 4% and 6% against the 4% recorded for 2018-19.<\/p>\n<p>As well as its online expansion, the firm <strong>continued to grow its international reach, opening stores in 23 markets.\u00a0<\/strong>It had 7,447 stores at the end of its first quarter.<\/p>\n<p>The fashion empire said last month it will <strong>appoint chief operating officer Carlos Crespo as its new chief executive <\/strong>at its annual general meeting next month.<\/p>\n<p>He will lead the firm\u2019s digital transformation and sustainability drive, reporting to Isla.<\/p>\n","protected":false},"excerpt":{"rendered":"<p> [&hellip;]<\/p>\n","protected":false},"author":42,"featured_media":134710,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[10585,6,10494],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Zara owner rings up new sales record thanks to online push - TheIndustry.fashion<\/title>\n<meta name=\"description\" content=\"The owner of fashion giant Zara, has notched up a 10% hike in first-quarter profits after record sales thanks to a further global push online. 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