Increased turnover growth
The growth in net profit was in line with what analysts had expected. Turnover increased 5 % to 11.93 billion euro
(eliminating exchange course effects even 8 %), but from 1 November
until 8 December, turnover (without exchange rate fluctuations) even reached 10 % –
proof of the company’s growth speeding up, albeit slower than
expected.
Inditex had 6,249 stores on 31 October, compared to 5,887 in 2012 and even doubling
the tally compared to 2007. It intends to increase the number with an
additional 500 stores next year, mostly in China – which already is
Inditex’ second largest market with 450 stores. “We continue to see China as a very relevant driver of our
expansion in coming years”, CEO Pablo Isla confirmed.
He also mentioned that the company
has seen growth in Spain in the second part of the year, which is positive
news considering the recession severely meddled with Spanish consumption and
therefore Inditex’ numbers.
(Translated by Gary Peeters)
